Stop The Mother Of All Tax IncreasesSenate GOP Leaders vow it will be DOA

Hat-tip to FullosseousFlap for summarizing the Democrats' latest money grab and stop this tax increase: The “mother of all tax increases” is already being proposed by Charles Rangel, D-NY, Chairman of the House Ways and Means Committee. Rangel does not forsee a vote on the total proposal this year. Is this a preview of a Democrat administration featuring Hillary Clinton? You betcha - TAX and Spend Redistribution of Income. If it gets out of the House, Senate GOP Leaders intend to make Dead on Arrival.

The bill will add a 4% surtax on Americans earning more than $150,000 a year ($200,000 for couples). That is on top of the scheduled expiration of the 2001 and 2003 tax cuts. So, under Democrats’ plan, over the next few years, the individual income top tax rate in the will rise from 35% to 44%.

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Tags: Charlie Rangel, Democrats, increased taxes, liberals, Republicans, Tax, taxes, US Congress, US Senate To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!