A new study by the nonpartisan, nonprofit Tax Foundation examines the effects of allowing the George W. Bush tax cuts to expire.
The tax cuts were enacted in 2001 and 2003 for a temporary ten year period. On January 1, 2011, the tax cuts are set to expire. Congress is now working on whether to extend them or let them expire.
The Tax Foundation study shows the savings of the average middle class family in each congressional district if the tax cuts are extended.
According to the study, the average middle class family in Virginia’s 8th District, with the median 8th District income of $111,455, would pay $2,895 extra in taxes if the tax cuts expire.
Jim Moran opposes extending the tax cuts.
In a 2008 essay, Moran wrote, “The road back from the fiscal brink includes sacrifice from the American people…This should include allowing the Bush tax cuts, particularly to the wealthiest, to expire.”
Mr. Moran, this isn’t about wealthy Americans. This is about average middle class families who have been hit hard by this recession. And you want to play partisan games and hike their taxes nearly $3,000?
$2,895 may not seem like much to Moran, who throws around hundreds of thousands of his dollars like there’s no tomorrow, but imagine the effect of a $2,895 tax hike on a working family that is barely getting by.
A vote for Jim Moran is a vote for $2,895 in extra taxes. It’s that simple.