Wednesday, November 7, 2007

130% Tax Increase

Even House Democrats Shocked by Phase One of
House Democrats’ “Mother of All Tax Hikes”

Broken Promise
QUESTION: "If Democrats do take back control of Congress, how concerned should the average American be about a possible increase in his or her taxes?"

Then-Minority Leader Nancy Pelosi (D-CA): "Not at all. Democrats are talking about ... fiscal responsibility." (Press Conference, 7/28/06)

Sheer Panic

"With some vulnerable Democrats facing a difficult tax vote this week, House Democratic Caucus Chairman Rahm Emanuel of Illinois has raised the prospect of taking up the alternative minimum tax patch without provisions that would raise other taxes to make up for the lost revenues."

"Why should House members have to walk the plank?" asked Rep. Jim Cooper, D-Tenn. "This is a 130-percent tax increase..."

"'It's a very dangerous situation that puts some members on the spot,' one Democratic lawmaker said of Rangel's bill."

CongressDaily AM, 11/7/07)

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