In a July 28 Newsmax article, Dan Weil uncritically repeats claims attacking health care reform made by Harvard economist Martin Feldstein in a Washington Post op-ed. Among the claims by Feldstein Weil repeated was an assertion that a surcharge on the wealthy to pay for health care reform "will drive the top tax rate to 45 percent from 35 percent today."
In fact, Feldstein's suggestion that all taxpayers in the 35 percent bracket will pay the highest surcharge rate is false. The 35 percent rate currently begins at $372,950, while the highest surcharge applies only to incomes over $1 million.
Posted by Terry K. at 7:13 PM EDT