“When I was elected to Congress I promised to be a responsible advocate of taxpayers’ hard earned money. Just as I had done for 12 years in the Colorado state legislature, I pledged to do more with less tax dollars. This is why I cannot and will not support a budget that increases taxes just to increase spending for liberal interests at the expense of hard working Americans.

“The Democrat budget released today proposes the largest tax increase in history – $392.5 billion over five years – mainly to finance immense new spending through 2012. It also puts off any significant entitlement reform for at least five years, despite repeated warnings that delaying reform invites a fiscal and economic crisis for these programs.

“Additionally, the Republican alternative for fiscal year 2008 VA discretionary healthcare and programs would provide $42.4 billion, most of it for health care. This Republican budget is nearly $3 billion above the administration’s overall request and is $8 billion more than the Democrats’ budget over five years, without any tax hikes on those same veterans.

“Their plan is irresponsible and unacceptable. It adds more than $22.5 billion in new spending, while unfairly raising taxes on seniors, hard working families, and small business owners by rolling back tax cuts. These tax cuts have proven effective in stimulating our economic growth over the past few years. The Democrats tax and spend ways put our economy, families, and the future of our country in jeopardy. In Colorado alone the average family of four will pay an increase on the average of $3,092 a year.”

The Largest Tax Increase in History. Although the Democrats may try to claim otherwise, the revenue numbers in the Mark clearly show tax increases totaling $392.5 billion over five years, compared with the level of taxes if the 2001 and 2003 temporary tax cuts are retained. Taxes increase by $231 billion in 2012 alone, which is even greater than the $153-billion surplus the budget claims.

Tax Increases Are Widespread. Democrat tax increases would hit middle-income families, low income earners, families with children, small businesses, and a range of others. Here is a sampling of the implicit tax increases:

Tax Increase 5-Year Total

Increase in Marginal Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $182 billion

Reduction of Child Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $27 billion

Increase in Marriage Penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $13 billion

Increase in Death Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $91 billion

Increase in Capital Gains and Dividends Tax Rates . . . . . . . . . . . . . .  . . . . . . . . . . $32.5 billion

Other Tax Increases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . $47 billion

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