Just before the House adjourned for the Easter recess, House Democrats passed a budget which, if enacted, would result in a paralyzing $683 billion tax hike on American families over five years - record tax hikes at a time when our state’s economy and our nation’s economy can least afford it.
The budget is nothing short of the largest tax hike in American history and squarely places the burden on the backs of working families across the nation.
If the Democrats have their way, working families and seniors will particularly bear the brunt of the Democrat tax hikes: An elderly couple earning $40,000 would see their tax bill more than double in 2011, jumping from $583 to $1,489; a family of four with $60,000 in earnings would see their tax bill jump $1,900 in 2011, from $2,733 to $4,634; and a single parent with two kids earning $30,000 would see their tax benefit plummet $1615 – from getting back $2,414 in 2010 to just $799 in 2011.
To fortify the economy, we must take a responsible approach that encourages economic growth, fosters job creation and provides a helping hand to the small business community.
It is also especially critical to make the tax cuts of 2001 permanent – Michigan’s working families who are already struggling to get by cannot afford to be slapped with the marriage penalty, the death tax, and a jump in their overall tax rate.
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