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As RepubliCONs come out of the woodwork to denounce the Presidents budget, and the increase of taxes on the wealthy, I think it is important to continuously point out that the tax increase is a George W. Bush/RepubliCON tax increase.
When Bush’ tax cuts were passed, they were budgeted for, and justified by having them expire in 2010. Seems to me that if we had to “sunshine” something to make it fiscally viable, we probably shouldn’t have done it in the first place, but that is another story and another argument.
Right now, if we do nothing…TAXES ON MIDDLE CLASS FAMILIES ARE GOING TO INCREASE! That tax increase on Middle Class families is a REPUBLICAN TAX INCREASE. For the party that prides itself on “doing nothing”, that should be a campaign club that Democrats use to beat them over the head with…repeatedly.
The President has proposed that we allow the tax cuts on those making more than $250K expire. If we “do nothing”, all tax cuts and credits will expire, even those on the Middle Class. That is just a fact based on the law that was passed.
Let the Repubs block the President’s proposal, AND HAMMER HOME THE FACT THAT THEIR OBSTRUCTION WILL LEAD TO THE MIDDLE CLASS MARGINAL TAX RATE RISING FROM 25 TO 28%.
Here are just of the taxes that will be raised if Republicans continue to “just say no”.
* Taxpayers who itemize will lose the option to deduct state sales-tax payments instead of state and local income taxes;
* The $250 teacher tax credit for classroom supplies;
* The tax deduction for up to $4,000 of college tuition and expenses;
* Individuals who don't itemize will no longer be able to increase their standard deduction by up to $1,000 for property taxes paid;
* The first $2,400 of unemployment benefits are taxable, in 2009 that amount was tax-free.
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