THE FUNDING OF GMC: Business owners; tell us how this will impact your business. Employees; how will this impact your family?Govs office still contemplating funding source. But last week, Sen. Peter Galbraith, D-Windham, talked about his proposal to pay for Green Mountain Care (GMC = the state’s single-payer system). Galbraith says an 11% payroll tax on employers and a 2% payroll tax on employees would raise $1.45 billion of the $1.6 to $2 billion the politicians say they’ll need. Yes, that’s billion! Galbraith argues that the payroll tax is a deductible business expense; so the federal government is really picking up a third of the cost.
Posted on: Mon, 20 Jan 2014 15:00:01 +0000
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