Thursday, March 13, 2008
A RISKY
CONGRESSIONAL BUDGET PROPOSAL DURING TIMES OF ECONOMIC
UNCERTAINTY
In 2007, during their first year of control of the U.S. House of
Representatives the Democrat leadership proposed and passed a
budget for our nation which included $400 Billion in new taxes
on American families. That budget set the record as the largest
tax increase in our nation’s 230 year history. Unfortunately
American families have experienced severe economic uncertainty
in the months that followed this record setting budget. The
housing market has been in turmoil, we worked longer to pay off
our tax burden in 2007 and the prices we pay at the pump and for
basic consumer goods such as food continue to trend upward.
Good Iowa common sense would dictate that the Democrat
leadership would recognize the economic reality our nation faces
and avoid piling on additional tax hardship on the pockets of
hardworking Americans with their budget blueprint in 2008.
Unfortunately, big government thinking has blinded the
leadership of Congress on the economic realities of today.
Recently, the Democrat leadership in the U.S. House of
Representatives, for the second year in a row, set yet another
record with a budget that includes a $683 billion dollar tax
increase… that is, $283 billion more than last year’s record
setting tax increase of $400 billion, on American families.
The Democrat’s budget is an equal opportunity taxer. Their
budget adds up to a tax increase on married couples, a tax
increase on families with children, a tax increase on death, a
tax increase on investment, and a tax increase on savings. In
fact, every current federal income taxpayer, and millions of
Americans who were removed from the tax rolls since 2001, will
be paying more in taxes under the democrat’s budget. For the
average Iowa taxpayer it is estimated that the Democrat’s budget
will cost an additional $2,778 in taxes than you are currently
paying each year. That's $2,778 more that government takes from
your back pocket and $2,778 less for you and your family to
spend on groceries, gasoline, the family vacation… or your
children’s college fund.
The Democrats' tax hike doesn't only hit families, it also
targets America’s employment workhorse: small businesses. These
small businesses employ approximately 50 percent of all private
sector employees, but the tax-hike will do nothing to help
employers give raises or invest in new equipment. And it
certainly won't do anything to stimulate the struggling economy.
I assure you that I do not, and will not, support the Democrat’s
record-setting tax increase. I support tax relief for Iowa's
middle-class married couples, parents and workers who need real
financial solutions. Iowans want pro-growth policies that will
help our economy grow and provide us with security. We support
policies that provide a stable and strong workforce. And we want
Washington to work to keep America competitive and prosperous.
At a time when our nation sits at an economic crossroads I am
choosing to support Iowa's working families, farmers and small
businesses by opposing the Democrat leadership’s risky budget
scheme full of wasteful spending and history’s largest tax
increase.
CLICK
THE ICON FOR AN MP3 BROADCAST QUALITY VERSION OF THIS LATHAM
REPORT READ BY CONGRESSMAN LATHAM.
______________________________________________________
The
Latham Report is authored by Iowa’s 4th District
Congressman Tom Latham
2447 Rayburn House Office Building – Washington, DC 20515
Phone: 202-225-5476 Toll-free: 1-866-829-4933