Keeping His Word: Restoring Fairness To Our Tax System
Governor Martin O’Malley, Chair of the Democratic Governors Association, released the following statement today on the need to extend middle class tax cuts and provide certainty to families across the country:
“President Obama has made clear the importance of extending middle class tax cuts for 98 percent of Americans and 97 percent of small businesses – he ran on, promised, and has put forward a balanced approach that protects middle class families across the country. Now, Congress must act to prevent the typical middle class family of four from seeing its taxes rise by $2,200.
“The President has already signed $1 trillion in spending cuts, and his plan reduces the deficit in a balanced way by $4 trillion by asking the wealthy to pay their fair share and preserving the critical investments we need to continue growing our economy and fostering job growth. A number of Republicans have sent encouraging signs that they are open to a bipartisan solution to prevent these tax hikes, and leaders of both parties have pledged to work together. The President has made clear that both sides of the aisle must come together to renew middle class tax cuts so families across the country have a bit more certainty at this critical time as our economy continues to recover.”
If Congress fails to act before the end of the year, every American family’s taxes will automatically go up and people from all over America are writing in to say what $2000 means to middle class families.
President Obama is calling on Congress to pass the middle class tax cuts so that 98 percent of Americans and 97 percent of small businesses don’t pay higher taxes next year.
Middle-class families can’t afford that right now. And nobody in Washington says they want it to happen. Instead of holding the middle class hostage over tax cuts for the wealthy, we should do what we can agree on: keep middle-class taxes from going up.
Allowing income tax rates to rise for wealthy Americans, and maintaining rates for the less affluent, would not hurt U.S. economic growth much in 2013, the Congressional Budget Office said on Thursday, stepping into a dispute between Republicans and Democrats over how to resolve the so-called “fiscal cliff.”
You work hard, stretch every penny, but chances are you pay a higher tax rate than him: Mitt Romney made $20 million dollars in 2010, but paid (maybe) only 14% in taxes—probably less than you.
Now he has a plan that will give millionaires another tax break and raises taxes on middle class families by up to $2000 dollars a year.
Mitt Romney’s middle class tax increase: he pays less, you pay more.
“Son of Boss”
Did Romney pay 10% in taxes? 5%? Zero? We don’t know.
But we do know that Romney personally approved over $70 million in fictional losses to the IRS as part of the notorious Son of Boss tax scandal.
One of the largest tax avoidance schemes in history.
Isn’t it time for Romney to come clean?