NYT: Democrat plan would raise taxes on some high wage earners to help pay for Medicare

(Washington, DC) -- Democrats in Washington are reportedly proposing to raise taxes for some high-wage earners to help pay for Medicare.

The New York Times says the Senate proposal would raise over 200-billion dollars over the next ten years by imposing an additional three-point-eight-percent tax on income earned from owning part of a business that is not subject to corporate income tax, such as a medical practice or a law firm.

The tax would be used to support a Medicare trust fund that pays for hospital care. The report says Democratic leaders are expected to announce the Medicare plan in the coming days.