Posted by Curt on 15 April, 2008 at 9:37 am. 7 comments already!


A good reminder on this tax day is the recent budget passed by the Democrats which assumes the Bush tax cuts will be gone. They use lots of rhetoric to justify passing a 1.2 trillion dollar tax hike:

“Senate Majority Leader Harry Reid said Bush’s call to extend the tax cuts would help multimillionaires and special interests, not average working Americans.”

But the reality is that this tax increase will hit those from all walks of life. Here is OMB Director Jim Nussle:

During these times of economic uncertainty, the House and Senate produced budgets that include the largest tax hike in history by denying the benefits of President Bush’s tax relief to millions of Americans.

If the tax relief is not extended, it would result in an average tax increase of $1,800 per year for 116 million taxpayers. The child tax credit of $1,000 would be cut in half, the marriage penalty would be reimposed and the death tax resurrected. A middle-class family of four with two children earning $60,000 would face a tax increase of nearly $2,000 — a 70 percent increase in their taxes. In addition, if alternative minimum tax relief is not extended for this year, 26 million more taxpayers would be hit with an average AMT tax increase of $2,200.

Sure sounds like only the mega-rich will be hit huh?


Outstanding example of the hypocrisy prevalent inside the Democrat party. Via Hot Air watch as Teddy wiggles and squirms when asked why he defends estate taxes while his family does everything possible to avoid paying them:

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