They are proposing a 3 percent tax on doctors’ revenues:
“I am working harder, putting in longer hours, seeing my family less only to see my after tax income decline,” Foley said. “And now you want me to give the state 3 percent of my revenue, this in addition to the taxes I already pay on my income. … A 3 percent tax would cripple my business.”After listening to the complaints, O’Connor repeatedly asked witnesses if they had any other ideas how to generate funds to pay for universal health care. Almost to a person, the witnesses said they realized such an endeavor would be expensive and funding it complicated. But they were at a loss to suggest any viable alternatives, saying it would require further study.
Care to give some suggestions?
Update -
The mere talk of a doctor tax has caused this prospective physician to think twice about practicing in CT or CA:
Right now I am deciding where to practice when I am finally done with my military commitment in 12 months. I am in a good position since I am a urologist and the demand for my specialty is huge right now. I was considering the Northeast (since my wife and I are from Long Island), but this 3% tax thing is making me think twice. If CA and CT do it, it will probably sweep all the ‘Blue’ states. This murmur of a 3% tax in the northeast has sealed our fate and we will be heading South…
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I Googled the Connecticut tax and found your blog. Nice job. I’m an ob/gyn about 13 years out of residency active in teaching, clinical practice, some research, and administration. It’s possible the CT tax, if enacted, will drive some physicians out of state, but I doubt it. A few years ago Florida’s citizens passes an amendment where a physician will lose his or her licence after “3 strikes” due to malpractice cases or administrative issues. We had a very hard time recruiting for many months after that, but few people left the state. It is just as hard for doctors to pack up and move their school-age kids, spouses, and perhaps elderly parents as it is for everyone else. One would hope that a substantial number of CT doctors would hit the road (there are physician shortages in many parts of the country) but this probably will not happen.
Oh please. You doctors are the most overpaid people on the planet. You use the fact that the patient isn’t paying directly to inflate your fees well beyond any fair pricee. And you control the numbers of doctors to keep the price high.
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