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| The Era of Low Taxes is At Risk |
April 15, 2008 |
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Dear Friends,
Since I was elected to Congress nearly 10 years ago, I’ve been committed to keeping taxes low for families in New Mexico, and across America. Unfortunately, there are those in Congress who believe we can tax our way to prosperity, and they are putting the era of low taxes at risk.
The Democrat budget, passed three weeks ago, paves the way for the largest tax increase in U.S. history – nearly $683 billion. Under their blueprint, the marriage penalty will come back into the tax code, income taxes will go up, the child tax credit will be cut in half, taxes will be increased on capital gains and dividends, and the death tax will come back to life.
This tax increase would affect taxpayers in every income group, and will really hurt small business owners. Twenty-seven million small business owners across the country would see taxes increase by nearly 20 percent – or about $4,000 on average. Families with children would see their taxes go up, because of the reduction of the child tax credit.
Government cannot create wealth, but it can create the conditions for small businesses and entrepreneurs to invest and create jobs. That means low taxes and fair regulations.
I believe we should make the tax relief we passed in 2001 and 2003 permanent, and I will continue to fight to do so.
Wish you were here,
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