With all media attention focused on the battle over the Iraq War supplemental appropriations bill, few are paying attention to the Democrats budget proposal. It should surprise no one that the Democrats are proposing rolling back the recent tax cuts which will amount to the largest tax increases in American history. Robert Novack writes about it in today’s Washington Post:
The bill set to reach the House floor today (resembling the Senate version) would raise taxes an average of $1,795 on 115 million taxpayers in 2011. Some 26 million small-business owners would pay an average of $3,960 more. The decreased number of Americans subject to income taxes would all pay higher taxes, and 5 million low-income Americans would be returned to the rolls.
Republicans are offering an alternative that should remind the public about the differences between the parties:
Rep. Paul Ryan of Wisconsin, the fifth-termer who is the House Budget Committee’s new ranking Republican, has proposed an alternative resolution. It not only retains Bush tax cuts but also proposes deep reductions in spending, protects Social Security payments and runs down the national debt.
As Novak highlights, its a shame that Republican leaders never got behind such a bold vision when they were in charge. Better late than never I suppose and at least this gives Republicans an opportunity to remember what they are supposed to support (and oppose).