Greg Mankiw hot off the presses

Jim Capretta looks
at the Baucus healthcare bill and concludes that, because the subsidies
phase out as income rises, it imposes an effective marginal tax rate on
income of about 30 percent for many families. Add that figure to the
income tax, the payroll tax, and the phase-out of the EITC and "the
effective, implicit tax rate for workers between 100 and 200 percent of
the federal poverty line would quickly approach 70 percent – not even
counting food stamps and housing vouchers."

Link here.  I await further updates on these estimates…


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