Democrats Plans To Rape The Taxpayers

Their new tax bill will destroy our economy, thank God we have the new media and Reps like John Campbell to let us know what is going on . The Democrats want hundreds of billions in new taxes to pay for their new socialist state. Here is just a snip, go check out the rest.

The Republican Staff on the Ways and Means Committee put this fact sheet together, I feel it is quite enlightening, and wanted to share it with you.

When Chairman Rangel introduced his long-awaited tax legislation yesterday morning, there were certain things he conveniently forgot to mention. Among the things the Democratic Majority doesn’t want you to know about the “Mother of All Tax Hikes”:

1. MARRIAGE PENALTY ON STEROIDS: The bill imposes a surtax of 4% on single filers with incomes above $150,000 and $200,000 for married couples filing jointly. After years of fighting efforts to repeal the marriage penalty, the Majority is taking the battle to a new level by putting a massive new marriage penalty into the tax code.

2. KISS YOUR DEDUCTIONS GOODBYE: The surtax is imposed on adjusted gross income, not taxable income. That may sound like an arcane difference, but it is an important one. Now, when filling out your tax return, you add up your income to get your adjusted gross income and then subtract deductions for things like charitable contributions, mortgage interest, state and local taxes, medical expenses, un-reimbursed business expenses, or your standard deduction. But the surtax is applied to the AGI before you take deductions. So it has the effect of taxing people on items that they can ordinarily deduct.