HOUSE Republican Leader John Boehner

Middle Class Mugging: Dems Propose Largest Tax Hike in History

When Democratic leaders started dusting off their playbooks from the early 1990s, everyone knew it was only a matter of time before massive tax hikes were on the table.  Now House Democrats are poised to deliver the largest tax hike in history, saddling taxpayers with nearly $400 BILLION in new taxes.  That means increasing personal income tax rates on middle-income families, slashing the child tax credit, reinstating the marriage penalty, and hiking taxes on dividends and investment earnings.

Given the cost of living these days, now is not the time to raise taxes.  They may just be lines on the page to House Democrats, but the tax hikes they’re proposing mean real dollars and cents to American families and small businesses.  Democrats’ plan will raise the tax bill for every working American – 115 million taxpayers will see their taxes go up by an average of $1,795. And if you’re married, have children, or own a small business, you’re in for extra punishment.

For example, 48 million married couples will face an average tax increase of $2,899. 17 million elderly individuals will pay an average tax increase of $2,270.  26 million small business owners will pay an average tax increase $3,960.  And more than five million individuals and families who would have seen their income tax liabilities completely eliminated will now have to pay taxes.

Meanwhile, Democrats have failed to make serious entitlement reform a priority, despite the enormous growth in spending on Social Security, Medicare, and Medicaid.  They have failed to protect middle class taxpayers from the Alternative Minimum Tax (AMT).  And Democrats have completely failed to rein in runaway federal spending, proposing instead across-the-board spending increases.

These tax hikes are just the latest assault on taxpayers by Democrats.  After voting on the first day of the 110th Congress to make it easier to raise taxes on American families, Democrats have:

• Tied critical funding for America’s troops to billions in pork-spending.

• Imposed more than $6.5 billion in new taxes on American energy producers, which will lead to higher gas prices and higher energy bills for American consumers.

• Included millions of dollars in hidden earmarks in a giant spending bill.

Republicans believe Congress can balance the budget in five years without raising taxes.  We can balance the budget by keeping taxes low, promoting economic growth, and putting an end to the excessive waste, fraud and abuse within the federal government.

Permalink |

This entry was posted on Monday, March 26th, 2007 at 1:08 pm and is filed under Families, Fiscal Responsibility. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Comments are closed.

---