Democrats stampede out of Washington
|Democrats Stampede out of Washington|
Lee’s Summit, October 4, 2010 – Last week, with critical business still to be done, the democrats headed home to campaign without extending the current tax rates. This is not leadership but rather complete arrogance and disdain for constituents throughout America.
What’s at stake? Our hard earned tax dollar.
On July 2nd I wrote a piece that laid out what the current tax rate is and what it will be due to the lack of action by Democrats in the House and the Senate. Before you go saying it’s the Republican’s fault let me lay out a simple fact:
House of Representatives:Democrats – 255Republicans – 178Independents – 0Senate:Democrats – 57Republicans – 41Independents – 2
It is a clear Democrat majority in both houses of Congress. I don’t think anyone can argue the point. Yet when the House Majority Leader took the vote to adjourn, it was a 209 to 209 tie and she had to cast the vote – not for her constituents and keep the session alive to vote on the Tax rate extension – she voted to adjourn 210 to 209.
Simple math tells you that 31 Democrats sided with the Republicans to keep the session open and allow a vote to extend the current tax rates. Pelosi decided that vote was not going to take place.
Who is affected by the current tax rates expiring? You’ll be surprised and you’ll think I’m making this up; but I’m not.
- Lowest tax rate (mostly personal) up from 10% to 15% (50% increase)
- The 25% bracket goes up to 28% (12% increase)
- The 28% tax bracket climbs up to 31% (11% increase)
- The 33% tax bracket climbs up to 36% (9% increase)
- Top income tax rate (business and personal) up from 35% to 39% (11% increase)
- Marriage Penalty returns so working couples will pay more taxes than 2 single people.
- Child Tax Credit cut from $1,000 per child to $500 per child.
- Dependent care and adoption tax will be cut.
- Inheritance (Death) Tax returns with a top rate of 55%
- Capital Gains tax up from 15% to 20% (33% increase)
- Dividends tax will rise from 15% to 39.6% (164% increase)
- Alternative Minimum Tax rate is estimated to now reach out to 28 million families, where today it only affects the top 4 million income families.
The impact on the top wage earners of the end of the current tax rate is only 11%, yet for the lowest tax rate (#1 in the list) will see a 50% increase in their effective tax rate. Who is left to suffer the most?
On principle 210 Democrat representatives of tax payers in the United States threw the bottom wage earners under the bus. What was the principle? They stood firm on the need to have the rich pay 11% more in taxes, and some increase in the capital gains tax. Not for the betterment of the low income constituent; but it seems that getting even is better.
What is the thinking in Washington? Can it possibly be “I can’t make your life better Mr Low Income constituent, but I’ll make sure the rich feel the pinch!”?
The conservative movement – those who believe in fiscal responsibility – are fed up with Washington politics. It does not matter whether it is a Democrat, a Republican, or Independent.
What matters is the returning of a constitutionally limited government that controls the budget within our means. Not since Dwight D. Eisenhower has there been a balanced budget that did not include some magical formula that includes Social Security money. Clinton and the Republican congress came close in the closing years of the last millennium, but even they failed.
As we go to the polls in 28 days or so, keep this in mind.
Who among the candidates has experience in business?
Who among the candidates has actually created jobs in the private sector?
Who among the candidates truly will listen to the constituents?
Who will fight for our rights as Americans to keep our money and manage the countries budget within its means?
Vote for America! Vote to regain control over the politicians we hire to represent us. The current crop is more focused on what “they” want, than what we need as a nation.
Most of all, get out and VOTE November 2nd!
The Lee’s Summit Conservative