Not be a tax hike? Yesterday, the House passed a new budget which the Heritage Foundation refers to as “a study in fiscal irresponsibility.” Though Democrats, not surprisingly, claim the bill does not “raise taxes,” it does allow the President’s wildy popular tax cuts to expire, resulting in a massive $400 billion tax increase for Americans over the next five years. Those with the lowest incomes will shoulder the biggest tax burdens.
Read through this budget from preface to postscript, and you’ll find new taxes and an awful lot of new spending. You’ll find faulty assumptions and misguided premises. You’ll find a house of cards stacked on a bed of worms.
But nowhere will you find honest answers to honest questions about our future. And in instituting the largest tax increase in American history, what you may just find are the instruments of its undoing.
Among those who will experience a tax increase if the Democrats’ plan becomes law:
– 26 million small business owners, by an average of $3,960.
– 48 million married couples, by an average of $2,899.
– 42 million families with children, by an average of $2,181.
– 12 million single women with children, by an average of $1,082.
– 17 million senior citizens, by an average of $2,270.
Where is the Democrats’ claim that they advocate for the poor, the middle class, the working American, the little guy?
Guess what, Democrats? You can make until the cows come home, but numbers don’t lie. And numbers didn’t lie when you claimed Bush’s tax cuts benefited “only the rich.” As we can see from those limited five catergories above, of which a significantly low percentage is “rich,” Bush’s tax cuts benefited the middle class and the little guy far more than the rich.
The new Democrat plan will raise taxes, the economy will follow by slowing down, and government spending will increase even more than under Republican leadership. The Democrats want to grow the government by 2.4% each year, which means adding $100 billion more in spending each year.
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