The Democratically controlled House Ways and Means Committee has now given all Americans a view of what we can expect if the Democrats win the White House and/or majorities in the House and Senate - it's the mother of all tax increases, estimated at over $1 trillion.

This largest tax increase in the history of the United States of America is aimed directly at those who create jobs and economic growth. In their rush to implement wealth redistribution and gain votes, the Democrats are willing to throw this country under the bus and into another Jimmy Carter recession. Remember, it was the Democrats who saddled America with the Alternative Minimum Tax (AMT) the last time they went after the "rich" in their never ending quest for wealth redistribution. It's the middle class that is getting nailed with the AMT now.

The Democrats are assuring us, the American people, that the top individual tax rate will go from the current 35% to 44%, by not renewing the 2003 tax cuts and by adding a 4% tax surcharge to anyone making more than $200,000 per year. They also plan on raising the capital gains tax from 15% to 19.6%, and penalizing most forms of capital formation. This will place the U.S. as one the highest taxing countries in the free world.

Taxes influence behavior. That's an undisputable fact. The Democrats will destroy the very people they are trying to help. Who do you think is going to get hurt by driving those who create jobs out of the job creation business? People who need jobs are the ones who will get hurt. They will wind up on unemployment and food stamps and without self respect. If anyone thinks that the government is going to replace the private sector job creators, please read the obituaries of the communist countries that tried it.

IRS statistics show that in the U.S.
            the top 1% of income earners pays 39% of all income taxes. 
            the top 4% pays 47%  
            the top 5% pays 53%
            the top 10% pays 65%
            the top 20% pays 80%
and     the bottom 35% pays zero.
In fact many of the bottom 35% actually get money from the state and federal governments as tax credits, even though they never pay any taxes.

If you make $105,000 or more (before taxes!), you're in the top 10% and a member of the group that pays 65% of the country's income taxes,  The Tax Foundation states that three of four taxpayers in the highest income bracket are small business owners or farmers. Most of them use subchapter S or LLC tax reporting, which groups them in with individual tax returns. They are the job creators. 

What do you think the owner of a business employing 20 people is going to do when the Democrats stick him or her with a huge tax bill? History has proven that they will cut back and lay off enough people to recoup the money. How does that help the economy? How does that help the people who got laid off? 

Wait a minute. The money that comes into the government in the form of taxes to pay for unemployment checks for those laid off comes from those who are about to get soaked by the Democrats. Those who provide over half of the income tax revenue are going to cut back due to the higher tax rates. Since they make up over half the revenue, the revenue collected by the government will shrink. Due to the shrinking tax receipts, the Democrats will then have to increase the tax rates again. This time they will have to include the middle class, as Bill Clinton did, because there just won't be enough rich people to soak any more.

Why would anyone in their right mind increase tax rates, when it is a proven fact that lowering tax rates actually increases the amount of tax revenue the government collects. Even though the rate is lower, the economy grows much faster and there is more income to tax.

The Democrats are so blinded by their desire to win votes by fooling people into believing that wealth redistribution will help them, that they deny the truth of the tax reductions of 2003. The 2003 tax cuts created one of the greatest stories never told. They:

    increased tax revenue for 2007 by 6.7% over 2006 to $2,568 trillion
    increased tax receipts from 2003 by $758 billion
    increased individual tax receipts by 46.3% over the past 4 years
    increased Federal revenue to 18.8% of GDP from an 18.2 average over the past 40 years

The shame of it is that poor and middle class people are easily fooled by seductive free handouts and the thought of soaking the "rich". As history has proven again and again, it will only be a short time after they have elected the "wolves in sheep's clothing" to office that they will be told that their taxes are going up too because they have now been reclassified by the Politburo as "rich". What's even worse is that well educated intellectuals are falling for this also. And what is the absolute worst is that corporate executives, those about to be soaked, in an effort to win future exemption, are giving more money to the Democratic election campaigns. Can't they read history books? There will be no corporate exemptions.They are feeding the very beast that is going to serve them up for lunch.

If we do not come to our senses and vote against the wealth redistributors, the socialists, the collectivists and the central planners, this country will have to go through another horrible economic recession before its citizens wake up to economics 101.