Wednesday, July 11, 2007

National level

Yesterday, I received an interesting survey in the mail from The Heritage Foundation. This survey was titled, Tax Increase Impact Survey. This survey is based at the national level to address tax increases looming in the near future for all of us. Lately the focus on tax reduction has been aimed at our county and state officials, rightfully so, but I thought you might need a break to read what's on tap at the national level. Here are a few of the impacts listed in the Heritage Foundation's newsletter:
  • $2.4 Trillion: The overall tax increase faced by American families, seniors and business if President Bush's tax cuts expire.
  • $1,716: The average tax increase for over 100 million Americans if tax cuts are allowed to expire.
  • $2,034: The average tax increase that will hit 17 million seniors in President Bush's tax cuts expire.
  • 6.24 Million: The number of jobs that will be created over the next decade by making President Bush's tax cuts permanent.
  • $69 Billion: The cost of reinstating the death tax.
  • $29 Billion: The amount spent in 2006 by Congress on frivolous "pork" projects that use taxpayers funds to reward local special interest and pressure groups.
  • 44 Million: The number of married couples affected by the Marriage Penalty before it was reduced by President Bush. These families will be hit hard once again if the marriage Penalty is reinstated.
  • $1,480: The average cost in 2000 for couples punished by the Marriage Penalty.

The Heritage Foundation is a non-profit, non-partisan foundation looking out for the American taxpayers. You may want to check out their website which is: MyHeritage.org

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