OPINION | Barry Richard: Dems Plan Tax Hike if They Win Congress
Democrats say they will raise taxes again on American workers if they win control of the Congress this Fall.
Forbes.com says "The Democrats have released a detailed tax hike they plan to implement if given majority control of the House and Senate after the 2018 midterm elections."
Columnist Ryan Ellis says, "Democrats want to raise taxes not to reduce the debt but rather to spend that tax hike money on boondoggle projects."
Forbes says the plan would raise the top marginal income tax rate from 37 percent to 39.6 percent which would have a direct impact on small and medium-sized businesses. It would also increase the corporate tax rate from 21 percent to 25 percent, bring back the alternative minimum tax for 4 million families and cut the death tax standard deduction in half.
The recent tax cut enacted by Congress has had an incredible impact on consumer and business confidence. Workers have more money in their paychecks and many companies have passed on their savings to their workers in the form of bonuses. Mere crumbs to some Democrats, but a welcome relief to many hardworking Americans.
Voters need to remember that Democrats resisted the tax cuts and in fact, not one voted in favor of the tax cut legislation. And now they are warning you that taxes will increase if you give them control again.
The last thing in the world that I want to see is Congress making a grab at my wallet again. Higher taxes would slow economic growth and put our economy back in the freezer. Resist any effort by Congress to raise taxes in order to give them more money to squander.
Do not elect anyone to Congress who says he or she would vote to raise taxes.
Editor's Note: Barry Richard is the afternoon host on 1420 WBSM New Bedford. He can be heard weekdays from noon - 3 p.m. The opinions expressed in this commentary are solely those of the author.