Chairman Rangel proposed the Largest Tax Increase in the history of the United States last night. He wants to increase taxes 3.5 Trillion over the next ten years. Lets break down how Charles Rangel and the Democrats want to destroy the United States economy and move us towards a Nanny State.
4% Surtax on Americans earning over 150,000 a year and 200,000 for couples
Allow the Expiration of the Bush tax cuts that have spured economic growth
Raise the top Marginal tax rate from 35% to 44%
The details of the proposal make it even worse. The surtax on income is not on taxable income it is on gross income, something that is has never been taxed like this before. It also provides for the worst marriage penalty we have ever faced. Two sucessful spouses will be overly punished just for getting married because if a spouse makes as little as 50,000 a year they face higher taxes.
The joke that the paygo system is, gets exposed in this measure. Rangel insists that he must pay for AMT tax increases that were never inteded to happen. He believes that the 3.5 Trillion of a mistake that everyone agrees the AMT has "accidently created" has to be paid for. Money that has not been collected by the government is not a loss to government and should not have to be paid for. This just shows the shallow thinking of the Democrats. The could never handle not allowing the Government Revenue to increase by unreasonable means. What is the goal of this. Wealth Redistribution! How else do we expect the Democrats to pay for all their unreasonable proposals?
Thursday, October 25, 2007
Rep. Charles Rangel proposes the largest Tax Increase in US History
Sunday, September 30, 2007
After the war discussion, the investigation, and the grandstanding Congress still has not done their job
Congress has spent countless hours talking about useless measures and ammendments on the War that dont accomplish their goal of getting out. They have spent even more hours investigating the Bush administration. The remainder of the time has been spent grandstanding on the previous two issues and a myriad of other items. Lost in the shuffle they forgot to do their job. Congress appropriates the money the nation spends. Yet Congress seems to not have found to do their prinicpal job. I for one am outraged they have yet to pass final versions of even one appropration bill and wonder why this outrage is not getting more attention.
http://www.nytimes.com/2007/09/27/washington/27budget.html?_r=1&adxnnl=1&oref=slogin&ref=washington&adxnnlx=1190923701-IZC+09B4zmA/VlcGjBfsGw