Dems not Happy With Their 11% Approval Rating, Ready to Introduce “Mother of all Tax Hikes”….
Their logo isn’t a donkey for nothing….
At a bipartisan Ways and Means caucus last night, Chairman Rangel outlined his long-awaited “Mother of All Tax Hikes†legislation. The basics of the package are simple: This is the largest individual income tax increase in history.
The bill will add a 4% surtax on Americans earning more than $150,000 a year ($200,000 for couples). That is on top of the scheduled expiration of the 2001 and 2003 tax cuts. So, under Democrats’ plan, over the next few years, the individual income top tax rate in the United States will rise from 35% to 44%. By way of comparison, the other 29 Organization for Economic Co-operation and Development countries – basically other developed nations – have an average top marginal tax rate of 35.7%. In fact, only five OECD countries would have higher top marginal tax rates in 2011 than the United States if the Democrats’ bill is enacted.
This crushingly high tax rate will affect approximately 10 million taxpayers directly – including those who report business income, like small business owners and farmers – but the damage will ripple throughout our economy. Because small businesses and family farms often pay their income taxes as individuals, this is a massive tax hike on the engine that drives job growth in this country.
W Zip
Crossposted via Weasel Zippers….
Email This
Posted by WeaselZipper on October 25, 2007 9:47 pm
» Filed Under News, Politics As Usual
Trackback URL:
- Right Wing News: Right-Of-Center Bloggers Select The Most & Least Desired 2008 Republican Nominee (Fourth Quarter Of 2007 Edition)
Comments
5 Responses to “Dems not Happy With Their 11% Approval Rating, Ready to Introduce “Mother of all Tax Hikes”….”
-
-
-
Affiliations
The Giants
Advertise
-
-
Our Store
- Click the design to visit our store and help Stop the ACLU!
-
- More blogs about the ACLU
Syndicate Me
Don’t worry, after crushing the middle class into the ground, the new taxes will start to show up as increased prices on products and job cuts to “save profits” for big businesses.
Can somebody at least tell me what they plan on doing with all this money? I know I’ll be seeing it soon as a welfare check, but what is in it for those lucky enough to keep a job?
I would be for a confiscatory tax of 90% exclusively on
Democrats like the Kennedy´s and George Soros. If they
could be bankrupted by it the world would be a better place.
Easy one, Tim: ‘From each according to their ability, to each according to theri needs (read: as determined by the massive new leftist beauracracies
that the likes of hillary would put in place).’
In other words- the USSA is almost upon us. I just haven’t
been able to figure if the second ‘S’ stands for soviet or socialist.
Otter, it stands for both: United Soviet Socialist America.
“Their logo isn’t a donkey for nothing….”
I guess the new Republican elephant in the act of mating logo is saying something too. I wonder who they are screwing?