Republicans: Don't Pass This Tax Bill!

The battle over the tax extensions continues to rage as the lame-duck session drags on and the spectre of all Americans' taxes going up significantly looms ever closer.  The Democrats claim that the Republicans are holding the American taxpayer "hostage" for not giving in on a compromise deal that the GOP leaders hammered out with President Obama.  The media regurgitates the Democrat talking points.
To point out just a few things:  This bill has been looming since prior to the mid-term elections.  The GOP wanted to debate and vote on it then, but the Dems refused, apparently thinking it would hurt them during the election. Now, with Jan. 1st two weeks away and all Americans getting ready to have a massive tax imposed on them, the Democrats claim: that:
  1. The GOP is handing out a giant tax cut to the "rich" ( fact: all income tax rates will remain the same)
  2. People who die with over $1M  in assets and pay no "inheritance" tax increases the deficit by over  $780B dollars a year. (How does the government "lose" money that it is not collecting now?  Spending more than you make creates a deficit.  How do you count what you don't have?)
    1. Small Farmers would be hit hard. The $1M includes their homes, land, equipment, estimated crop yield, and more. A 50% tax on the families of these farms would cause the loss of the all of that for a huge number of families
In addition, the Democrats are larding up the bill with massive spending totalling hundreds of billion of dollars of new spending, including an earmark from Senator Roland Burris totalling over $48B for redistribution to inner cities (see my earlier post from today).

The GOP should vote no on this bill bring it back as soon as the new Congress is sworn in January 5th, extending tax rates for at least 8 to 10 years and putting a knife into this disaster of a bill. - Brian
Senator: 'There's No Way' To Read Entire Spending Bill Before Vote

Wednesday, December 15, 2010
By Matt Cover

(CNSNews.com) – Sen. Jeff Session (R.-Ala.) told CNSNews.com on Wednesday that there is “no way” someone could master the full 1,924-page, $1.1 trillion omnibus spending bill before Congress votes on it later this week.

Other senators said they were working through the bill with their staff, and one remarked he would be “lucky” if he was able to read all of it.

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