SubscribeHealth-care reform's 'back-door' tax
CNN: WASHINGTON (Fortune) -- The big talk on Capital Hill may be about health-care reform, but as part of this massive undertaking, the Democrats are quietly reshaping the tax system too. Tucked inside President Obama's latest health-care proposal is a major change to the Medicare tax.
Since its conception, the Medicare tax has always been tied to payrolls. Every paycheck, employers and employees each chip in 1.45%, regardless of how much someone makes. Under Obama's proposal -- which should be very close to what Congress winds up enacting -- a Medicare tax would now... Read More
Senate votes to extend jobless benefits
San Francisco Chronicle: The Senate voted Wednesday to extend a host of soon-to-expire elements of last year's economic stimulus measure, including help for the jobless and money to help financially strapped states pay for health care for the poor.
The 62-36 vote came over protests from conservatives who say the bill adds too much to the $12.5 trillion national debt. Six Republicans joined all but one Democrat, Ben Nelson of Nebraska, in voting for the bill. Read More
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