USA Today reports that House Democrats will unveil their fiscal 2009 budget on Wednesday. If budgets are about priorities, then Democrat proposal speaks clearly about how little they value fiscal responsibility. As USA Today says succinctly:

Democrats “want more domestic spending. They want fewer tax cuts. And they reject savings in Medicare.”

Remember when Democrats claimed to be the party of fiscal responsibility? It wasn’t that long ago when Speaker Nancy Pelosi “promise[d] fiscal restraint,” professed that Democrats “love tax cuts” and are “committed to addressing the long-term challenge faced by Social Security and Medicare.”

Tagged as: Democrats Abuse of Power, Tax Relief
Posted 04 Mar 2008

The Associated Press reports this morning that “House Democrats’ promise to permanently protect millions of middle-class families from a mostly unknown tax increase is faltering before it’s even unveiled.” Democrat tax chief Charlie Rangel and “Rep. Richard Neal, D-Mass., had planned to unveil their plan in May but now that’s not likely to occur before September, if then.”

The Democrats’ inability to govern means huge tax increases on American families, small businesses and farmers through an increase in the bureaucratically titled Alternative Minimum Tax. The AP says the “threat facing taxpayers is very real: more than one-third of taxpayers making between $75,000 and $100,000 a year face an AMT hit of almost $1,000 next April filing season if the tax code isn’t fixed, either permanently or with another patch. Taxpayers making between $100,000-$200,000 face an average $2,000 in additional tax.”

The Democrats face an uphill battle because their solution to reforming the AMT is to … you guessed it: hike taxes. “At the same time, those facing tax increases are sure to rebel. Leading that column, according to Republicans, will be small businesses that file as individuals,” reports the AP.

Tagged as: Tax Relief
Posted 10 Jul 2007