A Quote by Rick Larsen
Congress had the opportunity to extend tax relief to working families without increasing the deficit. Instead, we were handed a bill that favors the wealthy and eliminates deductions that benefit the middle class.
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We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
What I do believe absolutely is that in the middle of a recession, the American middle class and working class needs a tax relief.
By eliminating the tax breaks and special interest loopholes that primarily benefit the wealthy, our framework ensures that the benefits of tax reform go to the middle class, not the highest earners.
My upbringing was middle-class but my parents' families were both working-class so I had this odd combination of working-class background but in a privileged position.
Wes Clark put forward a middle-class tax plan, but it only helps a quarter of middle-class families, none without minor children at home. And mine helps 98 percent of the middle class.
We no longer have a significant middle class in the US due to Barack Obama's job-killing ban on oil drilling in Zion Park. While a small middle class remains in the coastal blue states, our tax bill devastates them by curbing deductions for state and local taxes and large mortgages. In a few years, everyone except the 1% will be a tricklee.
While the wealthiest families completely benefit from the tax cuts targeted towards the upper brackets, middle-income families were hit with the unwelcome surprise of higher taxes on tax day.
For students today, only 10 percent of children from working-class families graduate from college by the age of 24 as compared to 58 percent of upper-middle-class and wealthy families.
We will lower the tax burden on middle class Americans by asking the very wealthy to pay their fair share. Middle class taxpayers will have a choice between a children's tax credit or a significant reduction in their income tax rate.
Trickle down economics is a fraud. Giving tax breaks to the rich and large corporations does not create jobs. It simply makes the rich richer, enlarges the deficit and increases income and wealth inequality. We need economic policies which benefit working families, not the billionaire class.
I don't want to remember 2005 as a year that the government heaped unnecessary burdens upon American families. Stealing from the poor and middle class and giving to the rich, while increasing the deficit, is hardly responsible.
There will be a big tax cut for the middle class. But any tax cuts we have for the upper class will be offset by less deductions that will pay for it.
I don't know anyone, from any class, who's had a perfectly easy life. I've met people born into wealthy families who feel like they didn't have much emotional support, and people who come from working-class families who had loads of love but no money.
Tax reform shouldn't add one penny to our deficit or to the tax bills of middle-class Americans.
The biggest start-up successes - from Henry Ford to Bill Gates to Mark Zuckerberg - were pioneered by people from solidly middle-class backgrounds. These founders were not wealthy when they began. They were hungry for success, but knew they had a solid support system to fall back on if they failed.
I think it's time we had a President who will provide the only real economic security: good jobs. A President who will provide middle class payroll tax relief to get money in the pockets of workers who will spend it, not more tax giveaways for those at the top to stimulate the economy in the Cayman Islands and Bermuda. A President who will index the minimum wage to inflation and raise it from a 30 year low, not increase the tax burden on the middle class and those struggling to join it.
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