USA

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The Heritage Foundation launches a campaign against the dreaded estate tax (also known as the “death tax”) in the US. In the coming weeks, Congress will once again take up debate on the death tax, which expires for one year, beginning on January 1, 2010, before coming back in full force on January 1, 2011. Some in Congress are eager to prevent the death tax from expiring for even one year. Those that don’t want the tax to die will likely argue for a one-year extension of the tax at its current rate and exemption levels.

This paper from Curtis S. Dubay from the Heritage Foundation investigates the new taxes US government is about to impose, in order to finance Obama’s health care reform. Higher Medicare taxes would push the top average marginal tax rate even higher than already scheduled. Currently, the top federal tax rate is 35 percent, but President Obama has proposed to allow it to increase to 39.6 percent. In addition, the House of Representatives’ version of health care reform includes a 5.4 percent surtax on incomes over $500,000 a year.

The American healthcare system is stigmatized in Europe, and especially in France, where the government is pretending to offer a high quality health services to every French citizen, regardless of his contribution to the social security. But if the French social security system succeed in one task – covering the uninsured, it failed in two others, much more important issues – controlling costs and innovation. A recent study edited by the Cato Institute is evidencing the superiority of the American healthcare system when it comes to innovation in medical treatment.