The House Budget's $3,000-per-Household Tax Increase

[RWSchilz]

Despite healthy tax revenues and federal spending that tops $25,000 per household, the House Democratic majority has proposed a fiscal year (FY) 2009 federal budget that:

Raises taxes by $1.265 trillion over five years and $3.911 trillion over 10 years, or more than $3,135per household annually;
Includes 17 reserve funds that could be used to raise taxes by hundreds of billions more;
Increases discretionary spending by 8 percent and does not terminate a single wasteful program; and
Completely ignores the impending explosion of Social Security, Medicare, and Medicaid costs.The White House has responsibly pledged to veto legislation with tax and spending increases that would follow from these proposals. Congress should start over and write a budget that does not raise taxes on American families or businesses, is in line with the President's spending proposals, and addresses the coming entitlement tsunami. Anything less would likely worsen the economic downturn, make it more difficult for families to make ends meet, and kick serious budget challenges further down the road.
http://www.heritage.org/Research/Budget/wm1842.cfm
:fear:scratch:ohno:faint

[SummerSailing81]

All I can add to this is heaven help us if the Democrats get in office! The middle class will be doomed financially. There are so many more middle class families that are skating on the edge financially now who are barely able to live paycheck-to-paycheck. What will raising taxes so there's even less money in our paychecks do? Push us over the edge where even more people who will have to choose between paying their mortgages or feeding their families. Think how many more people will be losing their homes! Yet the politicians won't be affected at all by it and will probably even vote themselves another pay raise - gotta be able to pay for those second and third homes somehow! Sadly, the divide between the rich and the working class will become even wider with the rich feeling little if any financial pinch with a raise in taxes but for the middle/working class it means the difference between eating and being able to pay our bills.

[can4christ]

All I can add to this is heaven help us if the Democrats get in office! The middle class will be doomed financially. There are so many more middle class families that are skating on the edge financially now who are barely able to live paycheck-to-paycheck. What will raising taxes so there's even less money in our paychecks do? Push us over the edge where even more people who will have to choose between paying their mortgages or feeding their families. Think how many more people will be losing their homes! Yet the politicians won't be affected at all by it and will probably even vote themselves another pay raise - gotta be able to pay for those second and third homes somehow! Sadly, the divide between the rich and the working class will become even wider with the rich feeling little if any financial pinch with a raise in taxes but for the middle/working class it means the difference between eating and being able to pay our bills.



They are in office (democrats). McCain isn't much better and probably wouldn't veto a tax increase. He voted against the tax cuts. He tends to vote with the dem's more than the rep's.

The so-called rich are mostly sole proprietor businesses and they will be feeling the tax hikes. Taxes will be hiked higher on them than anyone else, you will see lots of doors closing and that means jobs going away.

[RWSchilz]

You are both right! :)