Here Come the Federal Tax Hikes

These are taxes that will hit everyone, including those who don't currently pay income tax.

The list of options being weighed by the tax-writing House Ways and Means Committee, and obtained Thursday by The Associated Press, aims to raise some $600 billion over 10 years to partially pay for President Barack Obama's goal of overhauling the nation's health care system to tame costs and cover the 50 million uninsured.

The final price tag for that effort could top $1 trillion, with cuts to Medicare and Medicaid covering the rest of the cost.

The tax options include:

- Increasing the price of soda and other sugary drinks by 10 cents a can.

- Applying a potential 2 percent income tax increase to single taxpayers earning more than $200,000 a year and households earning more than $250,000.

- A new employer payroll tax could target 3 percent of employers' health care expenditures.

- Taxing employer-provided health insurance benefits above certain levels - a less likely option but one that still is in the running.

House Democrats planned to unveil a draft of their sweeping health care bill Friday. It would require all individuals to obtain health insurance and force employers to offer health care to their workers, with exemptions for small businesses. A new public health insurance plan, strongly opposed by Republicans, would compete with private companies within a new health care purchasing "exchange" where Americans could shop for coverage. Government subsidies would help the poor buy care.

We've got a mix of nanny state taxes, such as the tax on soda, along with payroll tax hikes, which sap paychecks of money at every turn. It's yet another redistribution of wealth scheme.

More to the point, the tax hikes wont cover the costs for these programs, requiring still more tax hikes - a vicious cycle that saps the wealth creators in the nation - private enterprise.