Taxmageddon will Affect You

June 22, 2012

Message from Tony O’Donnell Candidate for Maryland’s 5th Congressional District

The largest tax hike in history will take effect on January 1, 2013 unless Congress takes action. Just how will this affect you? The Heritage Foundation has created a new interactive map to see Tax Increases by State.

Heritage research shows that families will see an average tax increase of $4,138. Baby boomers’ average increase will be $4,223, and low-income taxpayers can expect a $1,207 increase. Millennials will be hit with an average hike of $1,099, and retirees $857. Check out the infographic to see where you fall.

As taxes increase, prices increase, demand for goods and services drops. As demand drops, businesses must find more efficient ways to stay afloat; this includes letting employees go. Thus unemployment increases and fewer tax payers are now contributing to pay for the government services. As tax revenues decrease, government looks for ways in increase revenue and issue another tax increase. The vicious cycle starts again.
It’s time to end the tax increase cycle! First, Congress should immediately make the current tax rates permanent avoiding the January tax hike. Second, Congress needs to cut spending in order to bring the federal budget into balance with the revenues all the while servicing the country’s debt. The Congress will need to make difficult choices and the citizens may not like the choices. It’s time we had a Congressman who can make the tough choices. It’s time for Tony O’Donnell…NOW!

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3 Responses to Taxmageddon will Affect You

  1. NoNewTaxes on June 22, 2012 at 3:27 pm

    What fluff. Republican propaganda again. This would NOT be a new Tax Increase. It would be ending Bush era tax cuts– of which helped fuel our deficit (for those that need an understanding, Bush increased expenditures and decreased revenues). And I’m sure Mr. O’Donnell would be glad to tell everyone that the Heritage Foundation is is right wing conservative organization that fluffs the truth. The truth my fellow Americans is, that these Bush era tax cuts need to end, or does Mr. O’Donnell want to explain how much more he will go after middle class workers and Federal workers in order to pay for what Republicans want to spend money on (more wars in the middle east). Again people, educate yourself. These are not new taxes, or a tax increase. Don’t let anyone fool you. There isn’t much more discretionary spending that the Federal government can cut. Look at your own budget. If you spend more than you make, you have a deficit. No one likes taxes, but, if we have no revenue to pay for what we have, when and where will it end? It’s time to ask your representatives (and those running against them) to be honest and stop the bull. We need these cuts to end, so that the government can collect the revenue it needs, and it will protect the middle class.

    • Right.. on June 25, 2012 at 10:48 am

      I’m sure the first thing on anyone’s agenda is to protect the middle class. Seems like the left wants to protect illegal immigrants and hand out more of my taxes to people who are to lazy to get up and get a job. You are an ADULT, take care of yourself. The right has its issues as well, but I tend to side more with their take on the way this country should be run.

      On a different note.. the one thing this COUNTY needs to do is ditch Hoyer. What a WASTE of space.

  2. timebandit on June 24, 2012 at 4:40 am

    Sounds like more political double talk! Yes it costs money to run a country, But it costs much less if you don’t waste so much. The Republicans and Democrats want you to believe their party is the cheaper way to go. HELLO, party! I worked in Md State government, all of them are wasteful, I saw the waste. I also felt the sting, pay cuts and time off without pay! We have all suffered alot in the past few years, but State Employees suffered more, especially to give raises to the sorry people elected to office. They cannot have their pay reduced because they covered themselves with a cloak called a law. Protect the middle class, they won’t do that because it WILL cost them more.