The headline of an Associated Press article this morning tells Americans everything they need to know about how President Obama and the Democrats who control Washington feel about taxes: “Democrats willing to risk tax hike for all.”
What does their recklessness mean for the American people? According to the Joint Committee on Taxation, the willingness of Democrats to play chicken with the American economy means that:
- A family of four earning $50,000 per year could pay almost $2,200 in higher taxes (a five-fold increase in their tax liability).
- A single mom earning $36,000 per year could pay more than $1,100 in higher taxes (nearly doubling her tax liability).
- Married senior citizens earning $40,000 per year could pay nearly $1,700 in higher taxes (more than doubling their tax liability).
President Obama and Democrats in Congress must give up their crusade for higher taxes on families and job creators and work with Republicans to #StopTheTaxHike.