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MONTHLY ARCHIVES

Preventing the Democrat Tax Hike
by Randy
April 15th, 2008

A collective sigh will be heard all over the nation as hard working Americans head today to the post office to send out their tax returns. Benjamin Franklin had it right when he said that there are two things you can count on: death and taxes. However, Benjamin Franklin did not say that we had to accept the largest tax increase in history that the Democrats are imposing. Their budget resolution will cost the average taxpayer in the 29th Congressional District an additional $1,474 in taxes and lead to a $250 million loss to our local economy.

This is why I have co-sponsored H.R. 2734, the Tax Increase Prevention Act, which will put a stop to the Democratic tax hike. Besides the increase for the average taxpayer this $683 billion budget also includes:

  • Approximately 48 million married couples will face an average tax increase of $3,000 per year.
  • Low-income families with one or two children will no longer be eligible for the refundable child tax credit in 2011.
  • Roughly 12 million single women with children will see their taxes increase by $1,100 per year.
  • About 18 million seniors will be subjected to tax increases of more than $2,100 per year
  • Tax bills for an estimated 27 million small-business owners will increase by more than $4,000 each.

Hard working families have enough to deal with like, the increasing cost of living, the faltering economy, and the housing crunch. They do not need to be worrying about the biggest tax hike in history. Instead of utilizing the tax and spend policies of the past, we should be balancing the federal budget without raising taxes on the American people.

 

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This entry was posted on Tuesday, April 15th, 2008 at 1:34 pm and is filed under Tax Relief and Finance, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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