A 70-80 Percent Tax Increase!!!

Economist Greg Mankiw of Harvard University took a long hard look at Max Baucus' healthcare bill and has concluded that it is a massive tax increase (close to 80%!!) for a very large portion of the American working population. While I am not surprised by Mr. Mankiw's overall assessment, I am very concerned that his analysis will be spun as right wing political noise. You can bet that most in Congress that want "reform" at all costs will not be debating this expensive conclusion.