On the recordJanuary 9, 2007
That is a great point. It is great to have people like you in Congress to bring that common sense and know what it is like, and what really happens when prices go up and taxes go up and the response you get from people. You also mentioned that January 1, 2011, the death tax expires. You also have the capital gains tax will expire January 1, 2009. The taxes on dividends will increase January 1, 2009. I think it is record numbers of American people that have investments in the stock market through their mutual funds. Over 60 percent of America has invested. Folks that are getting dividends from those investments are going to be taxed at higher rates. We are going to again lose the child credit that will be cut in half over the next couple of years, the marriage tax, the penalty will be put back in place. Low-income taxpayers will go from that 10 percent tax bracket up to 15 percent tax bracket if we don't act. Just to remind the American people that are watching tonight, it is 14,052 days in the countdown for the Democrat tax increase. They don't have to act. All they have to do is sit on the clock, run out the clock. When it runs out, we are going to see over the next 4 years a $200 billion tax increase. Another thing you mentioned about job increases, I saw over the last 6 years, one of the sectors in the economy that saw one of the larger increases percentage-wise in jobs was the government, and over 4 percent increase in government jobs.
Source
govinfo.gov




