Congress Must Renew the Bush Tax Cuts!

Urgent Message From Sen. Fred Thompson

Dear Fellow American:

On Dec. 31, 2010, almost every working American will be hit with a massive, across-the-board tax increase on their income and investments.

On this date, the Bush tax cuts, enacted in 2001 and 2003, completely expire.

We must urge Congress and the president to renew the Bush tax cuts early, before they expire and before investors lose confidence in the U.S. economy.

The automatic tax increase will begin on Jan. 1, 2011, and could have catastrophic consequences for the economy.

As the nation faces a terrible recession — now is not the time to raise taxes!

Help me, our country and the League of American Voters get Congress and the president to renew the Bush tax cuts.

Please sign this online petition today to have Congress and President Obama renew the Bush tax cuts as soon as possible.

Yours for America,

Fred Thompson
U.S. Senator 1994 - 2003

Comments

Make sure to check out the comments on Facebook.

David Stockman, Reagan's ex-OMB guy, says it all.

Republicans have destroyed the American Economy.

http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1

So why does everything else I've read say that the increases will apply to the wealthiest 2% of Americans? - those who earn at least five times the national average?

From reuters.com:

Tax cuts enacted when Republican George W. Bush was president expire at the end of 2010, and many lawmakers want to extend most if not all of them.

President Barack Obama wants to extend the tax cuts that expire on December 31, except for a portion for individuals earning more than $200,000 a year or families earning more than $250,000. Republicans want all tax cuts extended permanently. Both plans would add to already large U.S. budget deficits, although the Republican plan would cost the government more.

Given that the Republicans now have more momentum after the elections, their tax cut plans could gain favor in the lame-duck session. One idea gaining traction is to extend the cuts for everyone for a year.

 

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