Happy Democratic Taxapalooza Day!
Let Freedom Ring has a shocking ad from Minnesota on democratic tax increases.
Newt Gingrich warned about the inevitable democratic tax increases last week:
Tax increases are personal for all of us. They take money out of our pockets and hurt the economy, destroying job opportunities for millions of Americans.
But tax increases are personal for me for another reason. Remember the Clinton tax increase of 1993? It was, at the time, the largest tax increase in history — a whopping $240 billion of our hard earned cash went to government over five years. So it came as no surprise to most of us (except the liberal authors of the tax increase) that this raid on the taxpayers helped set the stage for an unprecedented Republican victory in 1994.
Just three months into their majority, Democrats are once again proposing the biggest tax increase in history.
This month, the House of Representatives will debate the Democrats’ 2008 proposed budget. If it is passed, this budget will impose the largest tax increase in history on American taxpayers — totaling nearly $400 billion over five years. Families with children, low-income families, and small businesses all would be hit with hundreds if not thousands of dollars in increased taxes.
Just what taxes will be raised? Here are some of the specifics of the liberal proposal:
The 10% Tax Bracket Will Become 15%: More than five million families and individuals who previously owed no taxes will become subject to taxation.
Marriage Penalty Relief Will Be Eliminated: 23 million Americans will owe an average of $466 in additional taxes in 2011.
The Child Tax Credit Will Be Cut in Half: 31 million Americans will pay an average of $859 more in taxes in 2011.
Hat Tip Joe Hoft
Happy democratic taxapalooza day!