Thursday, December 20, 2007

Senate Republicans block tax hike for many in middle class

The Senate voted to block a looming tax increase averaging $2000 for millions of taxpayers after Senate Republicans succeeded in thwarting a Democratic plan to also raise taxes on investors. The Senate vote puts it at odds with the House, where Democratic leaders, under a principle of not adding to the national debt, demanded that the AMT fix be paid for, with a tax. Last month , the House passed legislation matching the AMT fix and other tax cuts with about $80 billion in new tax revenue. Reported by Jim Abrams, Associated Press writer.

First the tax was blocked so the money never came into the Treasury, it was never collected. So the Democratic Senate want to raise taxes on investors so they can pay for this tax cut. If you work for a company and have company stock, your an investor. They want you to pay for this tax cut. Now the House Democrats want to fix this problem with about $80 billion in new tax revenue. So they want all of us to pay for this tax cut. " They find it offensive to have to pay for these tax cuts," Senate Majority Leader Harry Reid , D-Nev., said of Republicans. "Shouldn't it be paid for? The answer is obviously 'yes' " This is the Democrats PayGo. How about a Republican SpendNo? If a person doesn't get a raise and makes the same amount of money as last year, he doesn't spend more. Wait!!! Maybe he can go to his boss and say he got a pay cut since he'll make the same amount as last year. No he will make less with the new taxes the Democrats want to pass. Someone has to pay for their spending. So they will PayGo you right in your back packet. Let's tell the Democrats where they can stick their PayGo. Watch your spending and leave our money alone.

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