In a recent press release, Republicans on the House Ways and Means Committee said that contrary to rhetoric from the Obama administration that no middle-income tax increases would be enacted, President Obama and Congressional Democrats have enacted over $685 billion in gross tax increases. According to the Congressmen, an additional $333 billion will be collected this year through "tax hikes" that hit the very middle class families despite the President's oft-repeated pledge that, "no family making less than $250,000 a year will see any form of tax increase." See, "WAYS AND MEANS REPUBLICANS CONDEMN MIDDLE-INCOME TAX INCREASES," TNT 70-23.
Posted by Isaac Pflaum, Associate Editor, Wealth Strategies Journal
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