From Captain Ed, we learn the Democrats want to enact the largest tax increase in US history:
The bill set to reach the House floor today (resembling the Senate version) would raise taxes an average of $1,795 on 115 million taxpayers in 2011. Some 26 million small-business owners would pay an average of $3,960 more. The decreased number of Americans subject to income taxes would all pay higher taxes, and 5 million low-income Americans would be returned to the rolls.
But it’s going to go to balancing the budget right?
The House version would increase non-defense, non-emergency spending by $22.5 billion for next fiscal year, with such spending to rise 2.4 percent in each of the next three years. To pay for these increases, the resolution would raise taxes by close to $400 billion over five years — about $100 billion more than what was passed in the Senate.
The Democrats are just as bad or worse than the boneheads they replaced. I already pay way too much in taxes to the federal government, upward is really not the direction I want to see my tax bill going. Apparently the Republicans have decided that they need to give more than lip service to cutting government and fiscal responsibility:
Rep. Paul Ryan of Wisconsin, the fifth-termer who is the House Budget Committee’s new ranking Republican, has proposed an alternative resolution. It not only retains Bush tax cuts but also proposes deep reductions in spending, protects Social Security payments and runs down the national debt.
Heh. The authors closing statement sums up my feelings exactly: “Why was no such resolution advanced during the 12 years the GOP was in the majority?” Good question!