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Surtax Plan Details Firming Up

By Matthew Yglesias

"Surtax Plan Details Firming Up"

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Jeff Young outlines House Democrats’ plan to raise $540 billion over ten years in new “surtaxes” on high-income taxpayers: “There would be different surtax rates, ranging from 1 percent to 3 percent, for workers with annual earnings of $350,000, $500,000 and $1 million, Rangel said.”

This is not my favorite financing idea, but it works just fine.

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