5.4% Surcharge for Millionaires

Do you know how to make a million dollars in Washington D.C.? Start with $2 million:

A sweeping overhaul of the U.S. healthcare system to be announced on Tuesday in the U.S. House of Representatives will include a surtax on millionaires of 5.4 percent, congressional sources said.

The tax rate is higher than the 3 percent surtax lawmakers had been discussing earlier and would be imposed on those making more than $1 million a year, the sources said.

While it's easy to demonize those who make $1 million a year, the reality is that most of those people are the business owners to employ much of the rest of America. That 5.4% won't just be paid by them, but by the people they lay off or decide not to hire.

Raising taxes on anybody in this economy is pure foolishness.