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Surprise: Democrats Breaking Promises, Raising Taxes For People Making Less Than $250,000
Remember when Obama promised this?
In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2% of Americans. But let me be perfectly clear, because I know you’ll hear the same old claims that rolling back thesetax breaks means a massive tax increase on the American people: If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.
I guess those were just words Obama said to make people like him, because just last week Democrats let tax breaks expire that will raise taxes on 23 million Americans, which is more than 2% of Americans and most of whom I’d assume probably make significantly less than $250,000/year:
Among the disappearing breaks are the research tax credit and an annual alternative minimum tax “patch,” which keeps 23 million additional middle-income Americans from being forced into calculating and paying the dreaded AMT.
Now, I’m no fan of the “tax the rich” stuff. I think that all Americans should shoulder at least some of the burden of paying for our government rather than shifting all of that burden to the richest Americans.
That being said, this is hardly the time for big tax hikes. Our economy simply cannot sustain it.
I know the Democrats are desperate for revenues to at least provide the appearance of tamping down run-away deficits in advance of an election year, but maybe instead of increasing the burden on an already beleaguered economy we should cut spending.
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Surprise: Democrats Breaking Promises, Raising Taxes For People Making Less Than $250,000
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Surprise: Democrats Breaking Promises, Raising Taxes For People Making Less Than $250,000
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