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U.S. News and Commentary



Monday
Apr162012

Congressman’s warning suggests war to come on your personal wealth

Republican congressman Tim Huelskamp (Kan.) is trying to warn Americans about dramatic tax hikes when the Bush tax cuts expire. (Photo: official portrait, U.S. House of Representatives)Pundits see potential in the “War on Women” meme, and both Right and Left are talking about it.

However, one Republican congressman is pushing a different message, and it’s relevant not only to women but to every voter.

Rep. Tim Huelskamp (R-Kan.) wrote a column explaining the impact of the looming expiration of those Bush tax cuts President Barack Obama claims only benefited the wealthy:

“When the Bush-Obama tax cuts expire at the end of 2012, all taxpayers will be subject to higher tax rates. Those in the lowest tax bracket will see their rates increase by half, from 10% to 15%.  Earners whose incomes fall into every other bracket will also see their tax rates go up as well. On top of those increases, the marriage penalty will return, family-friendly deductions like the child tax credit will decline precipitously, and the death tax will climb to 55%. And, we cannot forget about a surge in taxes from ObamaCare scheduled to take effect in 2014."

By the way, the marriage penalty doesn’t just affect the wealthy. Obviously Obama has his wires crossed on explaining those tax cuts to you.

If you’re a free thinking woman, remind yourself there’s more at stake here than arguments about social issues best left to the states anyway. You might want to also look through the rhetoric of a president who could conceivably get snared by a law he championed—the Lily Ledbetter Law. Check out Obama’s record on paying males more than females in both his campaign and at the White House.

In January, 2011, the Congressional Budget Office told Congress this:

“The budget is on an unsustainable path. Debt held by the public is already higher relative to GDP than it has been in more than half-a-century, and CBO projects that it will exceed its all-time high in about a dozen years under current policies.”

How did we get in this mess? Every time a president gets a tax hike, he helps Congress spend more.

You’d think instead of pushing a tax on wealth, Obama would do something about spending. After all, he did promise to deal with the deficit when he campaigned in 2008.

Independent women and men might want to think about paying higher taxes after bureaucrats blew almost $1 million on a single “conference” in Las Vegas and millions on loans to companies that went bankrupt.

War on Women? We should be calling this the War on Our Personal Wealth. And we should heed Rep. Huelskamp's warning.

Related

Daily Caller calls out the (tax) clowns (The US Report)

Clinton’s Budget: Higher Taxes and More Spending (The Heritage Foundation)

(Commentary by Kay B. Day/April 16, 2012)

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