Monday, November 06, 2006

Want higher taxes?

Then vote Democrat in tomorrow's election.

Remember those tax cuts that Bush passed early in his presidency? One of the stated goals of the Democrats is to ensure that they aren't made permanent. Most of the tax cuts are set to expire in the future. That was a compromise that was made in order to get them to pass. Well contrary to the Democrat rhetoric, repealing these tax cuts is going to hurt a lot more than "the rich."

Take a look at this column from The Washington Times. And excerpt:

An analysis by the nonpartisan Tax Foundation shows us just what is at stake for middle-income families if the tax cuts were repealed: A family of four (with two children under the age of 17), taking the standard deduction on an income of $50,000 a year pays a federal income tax bill of $1,365.

If the Bush tax cuts were never enacted, or if they were repealed, their tax bill would be $3,320. Not only does this family benefit from the lower income tax rates in Mr. Bush's cuts, but also from the doubling of the child tax credit to $1,000. A family of four earning $75,000 a year presently has an income tax bill of $5,115. That bill would shoot up to $7,538 if Democrats had their way and the Bush tax cuts were never enacted.
As a fiscal conservative, I'm very upset with the spending spree this Congress has engaged in and how the President has gone along with it but if you think the Democrats are going to be any better in this respect, you are going to be very disappointed.

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