One of the Republican claims is that if Democrats take over Congress they will increase YOUR taxes. This is ANOTHER LIE by the party that brought you the Iraq War. Let’s look at the issue of increasing taxes.
The GOP claims the Democrats will increase the “Death Tax” (Federal Estate Tax).
The current law will restore the tax rates to pre Bush tax Cut rates in 2011. The other fact is that only 1% of taxpayers ever pay this tax. The GOP ads make it sound like the death tax is harming most taxpayers. NOTHING could be further from the truth. This tax is truly for the wealthiest of the wealthy and to end this tax would add as much as $40 Billion per year to the national debt. 99% of Americans do not pay the death tax!
The other claims of the GOP is that Democrats would end the tax cuts to middle income tax payers—lower tax rates, increased Child Credit and elimination of the marriage penalty. The truth is that Democrats would not only make these tax cuts permanent but would tend to add to tax cuts that impact the middle income tax payers. The ONLY income group that might see a repeal of the Bush Tax Cuts is people with annual income above $300,000. The Republican Campaign Ads make it sound like Democrats will increase the taxes for ALL taxpayers when the ONLY group that could see an increase in their taxes are the top 10%- THOSE THAT DO NOT need THE TAX CUTS they got by the Bush Tax Cuts and that added revenue would help balance the budget.
The FINAL LIE by the GOP about Democrats increasing YOUR taxes is that even if BOTH houses of Congress were to vote for a change in taxes, without the signature of the President they CAN NOT BECOME LAW! LIES LIES LIES. That is what we get from Republicans about what will happen to your taxes if Democrats take control of Congress on November 7, 2006.