On the recordApril 15, 2010
As millions of Americans, and the people in my State of Louisiana, file their income taxes today, they are reminded how they labor under a tax scheme that discourages hard work, investment and savings. Federal, State and local taxes claim almost 27 percent of the average American's income. This means the average taxpayer worked until April 9 this year just to make enough money to pay their taxes. Meanwhile, our budget deficit this year is a record $1.5 trillion, three times the highest Bush deficit. This tax increase equates to more than $2,100 for every person in the United States and explodes the President's pledge not to raise taxes on Americans earning less than $200,000. And now we hear that the administration is considering a value added tax which taxes goods and services at every point in the process. Mr. Speaker, when it comes to taxes and our budget, let me suggest that Americans are not undertaxed; Washington is overspending. It is time for Congress to cut taxes across the board and stop the wasteful spending programs.
