Washington, D.C. —
Senator John Thune today made the following comments regarding Tax Day, and the largest tax increase in history contained in the budget proposed by Congressional Democrats:
"South Dakotans and Americans in general approach April 15th with great anxiety, and with good reason. The figurative tax collector knocking on the door of hard working taxpayers draws into focus the real tax burden placed on American families.
"Current Congressional leadership is either oblivious or unsympathetic to the tax burden on American families. Last month, the Congressional Democrats proposed the largest tax increase in American history.
"Under the Democrat's proposal, tax rates beginning on January 1, 2010 will be increased in most tax brackets. The increased child tax credit will expire, the marriage penalty will be reinstated, and the death tax will increase to pre-2001 levels, making it among the highest in the world.
"Presently, Americans work for 113 days out of the year just to pay their federal, state, and local taxes. By comparison, Americans only need to work for 60 days to pay for annual housing costs, 35 days to work for food expenses, and 50 days for medical care.
"These numbers are staggering, but it is worth pointing out that before the 2001 and 2003 tax cuts, American had to work an additional two weeks to pay their federal income taxes.
"Congress can and should work in a bipartisan manner to fix our broken tax code. Streamlining our tax code will strengthen our economy, improve the competitiveness of our businesses, and greatly ease the tax burden for all American families. Proposing to increase taxes in a time of economic uncertainty is the wrong course and will make Tax Day an even greater burden for all working families in the future. "
"South Dakotans and Americans in general approach April 15th with great anxiety, and with good reason. The figurative tax collector knocking on the door of hard working taxpayers draws into focus the real tax burden placed on American families.
"Current Congressional leadership is either oblivious or unsympathetic to the tax burden on American families. Last month, the Congressional Democrats proposed the largest tax increase in American history.
"Under the Democrat's proposal, tax rates beginning on January 1, 2010 will be increased in most tax brackets. The increased child tax credit will expire, the marriage penalty will be reinstated, and the death tax will increase to pre-2001 levels, making it among the highest in the world.
"Presently, Americans work for 113 days out of the year just to pay their federal, state, and local taxes. By comparison, Americans only need to work for 60 days to pay for annual housing costs, 35 days to work for food expenses, and 50 days for medical care.
"These numbers are staggering, but it is worth pointing out that before the 2001 and 2003 tax cuts, American had to work an additional two weeks to pay their federal income taxes.
"Congress can and should work in a bipartisan manner to fix our broken tax code. Streamlining our tax code will strengthen our economy, improve the competitiveness of our businesses, and greatly ease the tax burden for all American families. Proposing to increase taxes in a time of economic uncertainty is the wrong course and will make Tax Day an even greater burden for all working families in the future. "
