Thursday, October 25, 2007

Here we go...again with the taxes (LINK)

Give the democrats credit...they used to run as phony tax cutters (like Clinton and Gore) and just jack up taxes once they get in. This time, they are being clear: the party of big government and big spending is the Democratic party. Thank you Charlie Rangel for that clarity.

A Tax Plan as Trial Run for ’09 Law

WASHINGTON, Oct. 24 — The House’s leading Democratic tax writer will propose a sweeping overhaul of the tax code on Thursday that would increase taxes on many people with incomes above $200,000 but cut them for most others.

The bill, to be introduced by Representative Charles B. Rangel of New York, chairman of the Ways and Means Committee, would also overhaul corporate taxes by eliminating many major tax breaks and lowering overall tax rates.

Mr. Rangel has acknowledged that he does not expect to enact such a bill this year, and President Bush would almost certainly veto legislation that raises taxes on the wealthy.

If you feel left out...not making 200,000 per year, not to worry...we all will be impacted when economic growth slows and business are forced to lay off workers. When tax revenues fall short because earnings and wages are down...they'll come back for round 2.

Anyone interested in 'Don't Blame Me I Voted Republican' bumper stickers?

Submitted by D.B. Jackson

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