Largest Tax Increase in American History - Again

[Your money]

Approaching nearly 10 million words and stretching an interminable 67,000 pages, the American tax code exists today as complicated mess of pitfalls, pratfalls, and potholes – even though its central philosophy couldn’t be more straightforward: “If you want more of something, subsidize it. If you want less, tax it.”

... this past week, the majority leadership unveiled a budget plan for 2009 that raises taxes on everything from starting a family, to starting a family business. All to finance a reckless spending agenda that comes in a full $276 - billion - in excess of what the president has requested [which was no cut to begin with].

... slash the child care tax credit in half (from $1,000 per child to $500) ... resurrect the marriage tax penalty ... punish low-income Americans by replacing the 10-percent tax bracket (the lowest percentage one can pay and still pay income taxes) with a new lowest rung of 15 percent [50% increase, nice] ... increase the current 15 percent tax rate on capital gains ... raise the tax burden on dividends ... pave the way for the Death Tax to rise from the grave in 2011 ... ensure that an estimated 116 million taxpayers pay an average $1,833 more to the federal government this year than they did the year before... [there's {much} more...]

More than anything else, a budget request is a statement of national priorities; a clear enumeration of what our country needs to grow its economy and remain in the future the first-rate power it is today. In the case of the Democrats’ 2009 budget request, the statement of need could not have been articulated any clearer: We need more spending, historic new tax hikes, and greater control over the way American families live their lives...

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