Tuesday, June 3, 2008

Where Does Carl Levin stand on raising your taxes?

The tax cuts enacted during President George Bush's first term provided relief for millions of Americans. By the end of 2007, Americans had kept over $1 TRILLON of their own money and kept it away from the politicians in Washington. If these tax cuts are allowed to expire, it will mean huge increases for all manner of "rich" people. For instance:

  • 48 million married couples will face a $3,007 increase on average

  • 12 million single women with dependents will face a tax increase averaging $1,091

  • 18 million seniors will face a $2,181 average tax increase

  • 27 million small business owners will see a $4,066 tax increase on average.

These pending tax increases will be devastating for average American families.  A typical family will pay $500 more per child in taxes, and 43 million families with children will face an average tax increase of $2,323.  American families are facing higher costs in the grocery line and at the gas pump.  Americans deserve to keep more of their income.  If Congress allows the President's tax relief to expire:

  • A single parent with two children earning $30,000 would see an increase of over $1,600 in taxes. (an additional 5.3% of their income)

  • A family of four earning $40,000 would see an increase of over $2,300 in taxes

  • A family of four earning $50,000 would see an increase of over $2,100 in taxes - an increase of 191 percent

  • A family of four earning $60,000 would see a tax increase of approximately $1,901 in taxes - an increase of 70 percent

There is no question that the Bush tax cuts have been a huge benefit to middle and lower income taxpayers - families and small business owners. Yet Democrats like Carl Levin, who have an insatiable appetite for spending more of YOUR money, are highly unlikely to vote to extend the tax cuts. They will expire at the end of 2010. But, maybe before then, Carl Levin won't be our Senator...

For five-plus years as a State Rep I have held the line on taxes and spending. I promise you that as your Senator I will vote to make the Bush tax relief package permanent.

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