Comments on: New Budget Raises Taxes $3,135 Per Household

By: The Butler

The Butler — Thu, 01 May 2008 15:00:39 +0000

Speaking of budgets, it’s noteworthy lately that Bush has responded to the worsening economy by handing over billions to the poor to spend and here in the UK by contrast we’re hit by new and unnanounced vehicle taxes. There’s also a big crackdown on a certain kind of welfare fraud, superficially laudable but one that actually will remove significant sums from the local economy of already deprived areas. The poor and the middle-class are getting poorer.

By: Sickle

Sickle — Tue, 11 Mar 2008 20:51:14 +0000

Yes, I know, I read that, too. Once again, though, there is not now nor has there been any serious discussion of ending the lower- and middle-income tax cuts. Both Obama and Clinton said they’d leave those alone, as well as Congress. And, if you’d read previous threads (particularly Leonardo’s informed analysis), you’d see that the tax code did not, in fact, get “more progressive” under Bush–unless, once again, you’re going to play with the numbers.

Once again, though, you knew that, but decided to pass along the Heritage data without comment. Nice try, though.

By: Chris Kinnan

Chris Kinnan — Tue, 11 Mar 2008 17:04:46 +0000

Riedl notes that the automatic tax increases include expiration of many lower-income tax cuts. (The Bush cuts actually made the income tax code slightly more progressive).

“The baseline tax increase of $3.911 trillion assumes the expiration of all 2001 and 2003 tax relief, including the expanded child tax credit, marriage penalty relief, and lower 10 percent tax bracket. It also assumes the expiration of all other temporary tax relief and allowing the alternative minimum tax (AMT) to hit an additional 20 million taxpayers. True, lawmakers may choose to keep some of the current tax cuts by raising other taxes instead. For example, the House is planning to avoid the AMT hike by raising other taxes through the reconciliation process, and the budget includes language pledging to retain some of the 2001 and 2003 tax cuts. However, increasing some tax rates as the price of maintaining other tax policies at current levels is still a tax increase. Taxpayers will still pay trillions of dollars more, regardless of which pocket lawmakers take it from.”

By: Sickle

Sickle — Tue, 11 Mar 2008 16:55:10 +0000

* sigh * more scaremongering…

Almost ALL Americans are going to keep the tax relief they have. Only the super-rich are gonna pay more. Everybody knows this. Trying to claim that every household in America is gonna pay three grand more in taxes (which you and Heritage are clearly trying to imply, even though you know it’s just an average) is just silly. And, once again, it’s intellectually dishonest.

When Clinton raised taxes in 1992, Dick Armey famously predicted the collapse of America’s economy. This is the same crap, just from another highly-partisan think-tank. Which you reproduced here without comment or analysis. Just parroting the talking point.

Why do you keep doing this?