Extending the Bush Tax Relief? Key Democrat Says "Forget About It!"
DEM TAX HIKES DANGEROUS FOR AMERICAN FAMILIES & THE U.S. ECONOMY
Washington,
Oct 19 -
“The American people don’t trust Charlie Rangel and his tax-happy Democrat friends because they know Democrats will work overtime to raise their taxes. A family of four would see their annual tax bill rise by more than $2,000 if the Democrats have their way, and American families cannot afford it. Republicans have consistently cut taxes because it puts more money into the wallets of American families and it’s good for our economy.” – House Majority Leader John Boehner (R-OH)
Capitol Hill Democrats have never been shy about their plans to raise taxes, and for Rep. Charlie Rangel (D-NY) – the Democrats’ point man on tax policy – the mere prospect makes him downright giddy. Asked whether he will work to extend the 2001 tax relief that continues to provide a host of good news for American families, workers, and investors, Rangel tells the New York Observer flatly: “Forget about it.”
What does this mean? Democrats will work to repeal the Child Tax Credit, Marriage Penalty Relief, AMT Relief, Death Tax Relief, Lower Tax Rates on Capital Gains & Dividend Income, Work Opportunity Tax Credit, Tax Free 529 Accounts for College Savings, Saver’s Credit, Higher Pension / IRA Contribution Limits, Tax Credits for Hybrid Vehicles, Tax Credits for Alternative Fuels, and Charitable Giving Deductions, just to name a few.
Not convinced? The Observer article goes on to say Rangel is “relishing the chance to abolish” the Bush tax relief. This is the same Democrat who said there’s “no question” that Democrats will make Americans pay more taxes and that “everything has to be on the table.”
What are the consequences of repealing the tax relief that has benefited every American family? The Washington Times answers the question:
“‘But the consequences of repealing all the Bush tax cuts would hit people in much lower income-tax brackets and millions more who were removed from the tax rolls by Bush's reforms,’ said Scott A. Hodge, chief executive of the nonpartisan Tax Foundation.”
The latest reports on the U.S. economy continue to provide welcome news to the American people. Today the Associated Pressreported thatthe number of workers filing claims for unemployment benefits “dropped sharply last week to the lowest level in nearly three months.”
Wages are up, falling gasoline prices are fueling a stronger economy, and the Dow Jones Industrial Average reached 12,000 for the first time yesterday.
There is a clear choice between Republicans and Capitol Hill Democrats on the issue of providing tax relief to American families.
