Dustin Gawrylow: Where Does Congressman Pomeroy Stand On Raising Taxes In A Recession?
At the end of 2010, if nothing is done the tax cuts that were implimented in 2001 will disappear. With them, a considerable tax break for the lowest income earners.
In 2001, a completely new 10% bracket was created for the first $8,500 worth of income. Prior to that, this level paid 15%. If the these tax cuts are not extended, that income level will have to pay another $350 each year in taxes.
This represents a 50% increase in taxes for this income level.
Since this income level is generally on other government supported programs, does it really make any sense to turn around and tax them another $350 in the middle of a recession?
It seems that Senator Conrad is changing his tune on extending the tax cuts.
Senator Dorgan says he "firmly opposes" extending the tax cuts.
But Congressman Pomeroy doesn't seem to be saying much about it, what does that mean?
Even for a lower middle class earner making $34,000 this will represent a 1% tax increase for them.
These aren't tax cuts for the rich, these are tax cuts for Americans.
Dustin Gawrylow, Executive Director
Office Phone: (701) 751-2530
|
||
DakotaBeacon