Wednesday, September 20, 2006

Be Afraid   [Kathryn Jean Lopez]

Boehner's office sends this around:

Dem Confirms: Tax Hikes On the Agenda

"CANNOT tHINK OF oNE" tAX cUT wORTH eXTENDING

September 20, 2006

When Rep. Charlie Rangel (D-NY) recently talked to Bloomberg News, he laid out his plans for raising taxes on American families and small businesses: "Democratic Representative Charles Rangel vowed to reach out to Republicans if his party wins control of the House in November, while acknowledging that they may find his plans for changing tax policy unpalatable.

"Rangel's accession to the chairmanship of the committee would likely end six years of tax cuts by the Republican- controlled Congress. He said he 'cannot think of one' of President George W. Bush's first-term tax cuts that merit renewal." Here are just a few of the tax relief measures lowering the cost of living for American workers, families, and small businesses that Rangel, who serves on the House Ways & Means Committee, would repeal if given the opportunity:

• Child Tax Credit
• Marriage Penalty Relief
• AMT Relief
• Death Tax Relief
• Tax Relief for the Families of Fallen Soldiers
• 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
• Charitable Giving Deductions

Rangel tells Bloomberg he would like to enact so-called "pay-as-you-go" budget rules (which others would call "pay-more-taxes-as-you-go" budget rules) and doesn't want to increase the deficit.  Despite the rhetoric, he and his fellow Capitol Hill Democrats have OPPOSED virtually every piece of legislation designed to grow the economy and help lower the deficit.  These measures, championed by Republicans in Congress, have resulted in tremendous economic growth - and are helping to reduce the deficit.  According to an article from Reuters earlier this week: "Record high U.S. corporate tax receipts in the third quarter signal stronger-than-expected corporate profits for the period and the likelihood of a smaller budget deficit than forecast for 2006 and possibly 2007, analysts said on Monday.

"Corporate tax receipts reached $71.8 billion in the third quarter, making Friday's gross receipts of $85.8 billion the largest in a single day in history, the Treasury Department said on Monday." 

While the pinch of rising health care costs, high gas prices, steep college tuition rates, and uncertainty about retirement savings has many Americans feeling a little uneasy, there is a clear choice between Democrats who want to raise taxes on American families, and Republicans who are working to reduce the deficit, grow the economy, and help lower Americans' cost of living.

09/20 12:17 PMShare