Tax increases are personal for all of us. They take money out of our pockets and hurt the economy, destroying job opportunities for millions of Americans.
But tax increases are personal for me for another reason. Remember the Clinton tax increase of 1993? It was, at the time, the largest tax increase in history - a whopping $240 billion of our hard earned cash went to government over five years. So it came as no surprise to most of us (except the liberal authors of the tax increase) that this raid on the taxpayers helped set the stage for an unprecedented Republican victory in 1994.
The (New) Largest Tax Increase in History
Americans take tax increases personally - and so do I. Liberal tax-and-spend policies helped motivate Americans to elect a new center-right House majority for the first time in 40 years.
But guess what? Liberals are at it again.
Just three months into their majority, Democrats are once again proposing the biggest tax increase in history.
This month, the House of Representatives will debate the Democrats' 2008 proposed budget. If it is passed, this budget will impose the largest tax increase in history on American taxpayers - totaling nearly $400 billion over five years. Families with children, low-income families, and small businesses all would be hit with hundreds if not thousands of dollars in increased taxes.
Just what taxes will be raised? Here are some of the specifics of the liberal proposal:
- The 10% Tax Bracket Will Become 15%: More than five million families and individuals who previously owed no taxes will become subject to taxation.
- Marriage Penalty Relief Will Be Eliminated: 23 million Americans will owe an average of $466 in additional taxes in 2011.
- The Child Tax Credit Will Be Cut in Half: 31 million Americans will pay an average of $859 more in taxes in 2011.
The Liberal Tax Increase: How Much More Will You Pay?
But enough cold, impersonal statistical analysis. How much more in taxes will you and your family pay if this massive liberal tax increase is passed?
The Republicans on the Senate Budget Committee crunched the numbers and came up with some results that should frighten all of us, regardless of whether we're Democrats, Republicans or Independents.
You Know You're Going to Pay More Under the Liberal Tax Increase When ...
... You're a family of four earning $60,000 a year: Your income-tax bill will rise 61% in 2011, from $3,030 to $4,893.
... You're an elderly couple earning $40,000 a year: Your taxes will go up by 156% in 2011, from $583 to $1,489.
... You're a woman: You could be one of the 83 million American women who could see their taxes rise by an average of $2,068.
... You're married: You could be one of the 48 million married couples who will pay an average of $2,899 more under the liberal tax increase.
... You have kids: 42 million families with children will pay an average of $2,181 more in taxes.
... You're a small-business owner: 26 million small-business owners will get a tax bill for an average of $3,960 more than before.
Which one are you?
Where Are Your Representative's Priorities?
One more thing: While liberals in the House were busy voting to cut off funding for our troops in Iraq last week, their allies in the Budget Committee were busy making sure that amendments to the budget bill to reverse these tax increases will never get a vote on the floor of the House.
It's a depressing indication of the new House majority's priorities: They don't want to stop at defunding the troops - they want to defund the taxpayers, too.
But we don't have to take this lying down. All of us owe it to ourselves to see how our representatives in the House vote on this massive tax increase. Members of the Winning the Future community should contact their congressmen and let them know we're watching.
Tell them to vote "no" on the liberal tax increase. And in the process, send them this additional, critical message: There is a new coalition of Americans emerging.
We're Republicans, Democrats and Independents.
We're committed to smaller, better government and the solutions that will create a much better future for all Americans.
And we're ready to use all the tools of democracy in the information age - this newsletter, our e-mail, our networking, and our votes - to make our voices heard.
Your friend,
Newt Gingrich
P.S. - After leading the House effort to cut off funding for our troops in Iraq, House Speaker Nancy Pelosi (D.-Calif.) is planning to travel to Syria this week to visit a regime that sponsors terrorist attacks on our troops. The Logan Act, which was passed in 1799 under President John Adams, prohibits private citizens from negotiating with foreign governments without official sanction. Before she crosses the line drawn by the Logan Act, Speaker Pelosi should cancel her trip to Syria.
P.P.S. - My soon-to-be-released active history novel, Pearl Harbor, will describe the drastic consequences of being unwilling to come to terms with a dangerous reality. To pre-order a limited-edition, signed copy of Pearl Harbor, visit Premier Collectibles.
