House Democrats Pass Largest Tax Hike in History
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Rep. Eric Cantor (R-VA) recently sent out an email which highlights one area where the difference between Republicans and Democrats still remains stark: raising taxes.
Congressman Cantor:
Before adjourning for recess, House Democrats passed the largest tax-hike in American history; a rate hike that will soak an average of $3,120 from every family. In an economy reeling from a slowing housing and job market, this is a burden that American families and small business owners simply cannot afford.
Let’s be clear – this Democrat tax hike raises the tax burden of every American, particularly the middle-class. Their budget, which they voted to pass this week, includes the following tax assumptions:
* Raises the current “10 percent tax bracket” to 15 percent. This would increase the burden on all American taxpayers, especially the lowest income earners.
* Implements an across-the-board increase on marginal income tax rates.
* Reinstates the marriage penalty. Approximately 23 million married couples would be affected.
* Slashes the $1,000 per-child tax credit in half.
* Increases the tax on dividends, which often supplement the income of senior citizens relying on Social Security.
* Reinstates the death tax, which is considered the largest impediment to transferring family-owned businesses from one generation to the next.
Cantor apparently believes that some of the taxes may be able to be rolled back or blocked.
He also doesn’t mince words about the consequences of higher taxes on the American economy.
The consequences are chilling for ordinary Americans. Democrat strategists believe that by hiding these assumptions in a larger budget, the American people won’t hold them accountable over the resulting tax hikes. Fortunately, the legislative struggle is not yet over and it is not too late to prevent their plan from succeeding.
The House Democrats caught lots of media grief over their inability to pass legislation they favored.
But they demonstrated, that when it comes to picking the pockets of Americans, Democrats still remember how to raise taxes.
by Mondoreb
images: passiac
Sources:
* House Democrats Pass Largest Tax Hike in History
* The Democrat Budget: A Disaster for the Middle Class
* Cantor email
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$3,120 is almost exactly the amount that I received for my annual raise on March, 1st. I was really hoping to be able to stay ahead of mortgage with that money.
Damn you Democrats, stay out of my wallet.
[Reply]
It is totally mind boggling that the Democrats would impose another 5% increase in INCOME TAX on the American people! Everyone knows that the income tax is UNCONSTITUTIONAL. I say, let’s cut their salaries drastically or boot them out altogether! THEY HAVE ALL GONE MAD!
[Reply]
INCOME Tax is Not unconstitutioal..
Research SCOTUS ” Brushaber”
also the definition of “INCOME”
[Reply]
Give me a break! They are all crooks! Even Bush signed off on income tax increases passed by the Republican Congress.
The tax increases were enacted on Americans living and (I believe) working outside of the United States.
They became so onerous that many Americans living overseas renounced their citizenship.
It seems there isn’t much difference between Republicans and Democrats anymore.
[Reply]