On Thursday, House Minority Whip Roy Blunt issued a statement concerning the latest findings of the non-partisan Joint Committee on Taxation which revealed that that 113 million Americans, or 90 percent of all American taxpayers, are going to see their taxes raised if the Democratic majority’s “Mother of All Tax Hikes” (MATH) were to become law.
According to Blunt, when the Democrats rightly anticipated that millions of already over-taxed Americans would probably not approve of an additional $3.5 trillion tax imposed on their hard-earned money, they trotted out their same old, worn-out story that only the very wealthiest Americans would be affected by the ‘Mother of All Tax Hikes.’ However, those class warfare tactics were shot down in flames when the non-partisan Joint Tax Committee issued its latest analysis of the bill that would manifest the greatest tax hike in American history, and at a cost to nearly all American taxpayers.
“Of those 113 million, it appears middle-class Americans will be hit the hardest — assuming they make between $20,000 a year and $200,000. Under this historic tax increase, 94 million Americans would see their taxes go up, while less than a million would see any reduction at all. All in an effort to ‘offset’ the reckless spending agenda we’ve seen from this Democratic Congress,” Blunt stated.
Their critics say that the Democrats have a long and dirty history of trying to enact “targeted” tax cuts and raises that give preference and favoritism to those entities who “soullessly” agree to do the will of big government-something that President Clinton himself was shockingly transparent about when he opposed a Congressional attempt to enact a 10% across-the-board income tax cut for all American tax payers. The majority in Congress at the time was Republican.
Critics of targeted taxation are also quick to point out that while those who favor the practice call it “fairness”, the tax system is indeed unfair-to the wealthiest Americans. In the 1990s, studies proved that the wealthiest 10% of Americans were footing 60% of the total tax bill themselves. By 2005, even with the enactment of non-targeted tax cuts that tended to reduce the tax burden of the affluent and larger businesses, that figure had risen to 68%.
“Washington Post” columnist Sebastian Mallaby unleashed a scathing criticism on the Congress in 2005 when many then-minority Democrats took a position of rabid hostility toward the possibility of realizing Social Security salvation via partial or total privatization of the accounts.
“A party that refuses to acknowledge the urgency of entitlement reform is a party of ostriches,” wrote Mallaby.
Original Newswire Source: