Largest Tax Increase in American History Moves Forward

Posted: May 07, 2007 5:02 PM

Tonight, there will be a procedural vote to move the Democrat's proposed budget one step closer to final passage. The bill has become infamous for laying the groundwork of the largest tax increase in American history. It's slated to cost the average taxpayer an additional $3,029 per year. Further, the economic impacts are projected to be severe as it will take $400 billion out of the private marketplace to feed the beast that is our government bureaucracy. And, in spite of renewed warnings concerning entitlement spending, their budget proposes no reform to save these programs.
This budget is simply bad policy. Spending is the problem with our government, not revenue. Since 2003, revenue to the federal government has increased by 46 percent or $432 billion, and yet we are still running deficits. The government does not need more money, it needs more discipline.