Democrats' 2011 Tax Hikes to Hit Families Hard

I'm A Pundit Too ^ | 7/29/2010 | Doug Ragan

[TheNewPundit]

Parents pay over $1,000 more; Married couples pay nearly $600 more; Expiration of 10% bracket costs taxpayers over $500

Washington, DC – The top Republican on the tax-writing Ways and Means Committee, U.S. Rep. Dave Camp (R-MI), today released new information from Congress’ non-partisan tax analysts showing that the Democrats’ looming tax hikes will cost millions of American taxpayers thousands of dollars in additional taxes next year.

The Joint Committee on Taxation, in answering questions from Camp, confirmed that if the tax hikes go into effect as scheduled on January 1, 2011:

* 31 million families will pay an average of $1,033 in higher taxes next year due to a reduction in the child tax credit from $1,000 to $500; * 35 million married couples will pay an average of $595 in higher taxes next year due to a reinstatement of the marriage penalty; and * 88 million taxpayers will pay an average of $503 in higher taxes next year due to the elimination of the 10% tax bracket (meaning the first dollar of taxable income will instead be subject to the 15% tax rate).

“After running up record levels of spending and debt, and failing to pass a budget, Democrats are about to raise taxes on every American family. Because of these Democrat tax hikes, married couples will pay more, parents will pay more, and every American who pays income taxes will pay more,” said Camp. “Raising taxes is the last thing Congress should be doing right now – not on families and not on small businesses.”

[Leftism is Mentally Deranged]

Will the media put the blame where it belongs? On the marxist in the White House and his useful idiots in congress.

[bravedog]

It’s all Bush’s fault. If he hadn’t lowered the taxes in the first place, then this would not count as a tax increase. /sarc

[ducks1944]

So to Obama/Democrats anyone who pays TAXES is RICH!

[NEMDF]

Add those tax increases on to our state and local increases, not to mention rising health insurance and utilities costs... even the employed are going to have very real challenges making ends meet, and discretionary spending will take a huge hit.

[LowTaxesEqualProsperity]

Talk about kicking working people while they’re down.

Demonrats masquerade as being for the workers, they are actually acid for working people. They steal from working people and give to non-working people who are their main voting block.

[barb-tex]

Reminds me of the 55 MPH speed limit, if we hadn’t built 70 MPH freeways, we couldn’t save all this gasoline by driving
55 MPH.
barbra ann

[Vaduz]

Expected every time a democrat is in the oval office.
The democrat motto must be the more we tax the more we can spend.