Urgent: What are your thoughts on Obama’s tax compromise?Posted on December 07, 2010
Last night, President Barack Obama unveiled a compromise on the looming tax increase. The White House and Republican leaders agreed to a two year extension for all taxpayers, an unfunded extension of unemployment benefits, and several other tax reductions. While I oppose increasing taxes on any American, I remain concerned with several aspects of the compromise. The deal reinstates the death tax at 35 percent with a $5 million threshold, fails to pay for the extension of unemployment benefits and with only a two year extension of the current tax rates, it simply kicks the problem further down the road.
In his post-negotiation speech, President Obama said, “Allowing taxes to go up on all Americans would have raised taxes by $3,000 for a typical American family. And that could cost our economy well over a million jobs." Since President Obama finally admits that a tax increase on all Americans will hurt job creation, I am bewildered as to why we have to compromise. Having to choose between preserving the current tax rates and more spending is a false choice. It is critical that we focus on policies that encourage job creation.
As I wait for legislative language, which is required before I make a final decision, I want to hear from you. Many of you have made it clear that you cannot afford a tax increase. Do you support the President’s compromise? Please contact me through my website at http://broun.house.gov/Contact/zipauth.htm and let me know your thoughts.
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
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