Although his bill never became law, the senator has a clear picture of what Vermonters can expect when Shumlin reveals his single-payer financing plan in January — a plan that will attempt to lay a $2.2 billion (that's a LOT of Maple Surple!)
tax on the backs of about 630,000 Vermonters.
“If you do it on the sales tax, it would require a sales tax of 30 percent. If you do it on the income tax, you would have the bottom rate be 15 percent and the top rate be 30 percent. That would make the top effective tax rate in the state of Vermont about 73 percent,” Galbraith told Vermont Watchdog.
According to Galbraith, such taxes are highly impractical, making the only real options a payroll tax, mandatory premiums or a combo.