« | »

‘Obama-Care’ Will Kill New Yorkers

From the New York Post:

(Click to enlarge.)



July 16, 2009 — Congressional plans to fund a massive health-care overhaul could have a job-killing effect on New York, creating a tax rate of nearly 60 percent for the state’s top earners and possibly pressuring small-business owners to shed workers.

New York’s top income bracket could reach as high as 57 percent — rates not seen in three decades — to pay for the massive health coverage proposed by House Democrats this week.

The top rate in New York City, home to many of the state’s wealthiest people, would be 58.68 percent, the Washington-based Tax Foundation said in a report yesterday.

That means New York’s top earners, small-business owners and most dynamic entrepreneurs will be facing new fees and penalties.

The $544 billion tax hike would violate one of President Obama’s ironclad campaign promises: No family will pay higher tax rates than they would have paid in the 1990s.

Under the bill, three new tax brackets would be created for high earners, with a top rate of 45 percent for families making more than $1 million. That would be the highest income-tax rate since 1986, when the top rate was 50 percent.

The legislation is especially onerous for business owners, in part because it penalizes employers with a payroll bigger than $400,000 some 8 percent of wages if they don’t offer health care.

But the cost of the buy-in to the program may be so prohibitive that it will dissuade owners from growing their businesses — a scary prospect in the midst of a recession…

Be sure to click on the chart.

It is amazing how bad this bill is.

It will kill New York City.

This article was posted by Steve on Thursday, July 16th, 2009. Comments are currently closed.

17 Responses to “‘Obama-Care’ Will Kill New Yorkers”

  1. catie says:

    Well, since 99% of them voted for them I say great! They deserve everything they get. I have no pity for these people.
    Yes, it is a horrible bill but it will be crammed down our throats regardless I believe. I’ve been calling my dim Senators & Rep everyday but to no avail I’m sure. Well, I hope they’re happy with what they wrought.

  2. Media_man says:

    Will the last private sector high wage earner leaving NY State please turn off the lights? I see NY & shudder at what is coming to the rest of the country when Obama brings the NY way to the rest of the US. Where will people flee to then? Canada? Sweden?

    • TwilightZoned says:

      Absolutely. Who will pay for health care in NYC when all the people with money leave? The entire tax base of the U.S. National health care will be, after all, too big to fail.

  3. proreason says:

    Beware what you pray for.

    The problem is there are many good and decent people in NYC and around the country who didn’t vote for the Boy Dictator, and who don’t deserve having their lives ruined.

    • catie says:

      I’m not praying for them to fail. But I do blame the majority who did vote for him. I always make it a point to “thank them for the change” when I see their bumper stickers and I generally flip them off and I won’t let them in in traffic if they have obambi bumper stickers all over their cars. Childish I know but I cannot help it. Having had my car keyed for having a “W” bumper sticker they should count themselves lucky I’m not going to destroy their property as they did mine.
      However, I am beginning to despise these people for the “change” they brought to this country. Unfortunately we all have to suffer for their ignorance.

    • proreason says:

      Catie, I meant the people who voted for Obamy should beware what they pray for (or for them, wish for). My comment wasn’t in response to you. I almost always agree with what you say.

      I just wanted to point out that there are some good people even in the blue parts of the country.

    • catie says:

      Pro, I know there are some good people in Blue States-I have some high school friends living in NY and in HI.
      funny thing you mentioned about the people who voted for obambi needing to pray. My friend who voted for him because she is black said she & her father are praying every night about their vote. Her mother and husband think they’re insane but they do it and she actually apologized about it. Said she won’t be making that mistake again.

  4. neocon mom says:

    “If there’s one sure way to kill the goose that lays the golden egg, this is it.”

    Oh, but Obama has so many ways! There’s cap and trade, porkulus, the Obamacrat budget and he hasn’t even been in office for one whole year yet!

  5. U NO HOO says:


    “It’s Not An Option
    By INVESTOR’S BUSINESS DAILY | Posted Wednesday, July 15, 2009 4:20 PM PT

    Congress: It didn’t take long to run into an “uh-oh” moment when reading the
    House’s “health care for all Americans” bill. Right there on Page 16 is a
    provision making individual private medical insurance illegal.

  6. bronzeprofessor says:

    I have lived a vexed life: the two states where I’ve set down roots are…. New York and California. Dumb and Dumber. Tax Purgatory and Tax Hell. Debt 5.0 and Debt 7.0.

  7. canary says:

    Financial experts warned Obama’s spending would end up with some paying 60-70% in taxes. He seems to be doing everything to put the fear in people to spend, and so already spending less, and jobs are already laying people off. Obama’s knew his putting fear in people would worsen the economy. He and Sotomayor don’t say anything good, and both are socializing with the rich and famous. She probably has more rich friends than he does. I’m hoping Obama will decide to go Hollywood and not run again. He’ll get tired of not having his freedom to party like he wants too. Does he have a male or female intern?

    • Liberals Demise says:

      But Herr Dinglebarry said that this would not raise any new taxes. This just can’t be!!

      You mean to tell me ………. he LIED to us?

« Front Page | To Top
« | »