One of the few times I can say I'm happy I'm not making $350,000+

Ouch. Ways and Means Committee Chairman Charlie Rangel just announced that the burden of funding for the Health Care reform will land on those earning $350,000+.

Taxing the rich a little higher in order to allow cuts for the middle and lower classes has always been an argument between the Left and Right, and always will be. Personally, I believe that taxing 1-2% of the whole U.S. population for the sake of expanding capital across an overwhelming majority of the country makes sense.

But House Democrats now seem to want to hike up the taxes on the rich even more to cover the Health Care bill as well. May be a bit too ambitious...

Here's the proposed break down:

• Married couples making $350,000-$500,000 = a 1% surtax to cover the health plan.
• For those making over $500,000-$1 million = 2% surtax to cover the health plan.
• For those making over $1 million+ = 3% surtax to cover the health plan.
  

* By the looks of it, President Obama also wants to find more alternative means of footing this Health Care Bill, such as by cuts in wasteful spending in Medicare and Medicaid.