Joe Biden and the Effective Tax Rates of the Buried Middle Class

"This is deadly earnest," Biden said. "How they can justify raising taxes on a middle class that has been buried the last four years? How in Lord's name can they justify raising their taxes with these tax cuts?

Joe Biden, Vice-President, Charlotte, NC

 

Yes, Mr. Biden, they have and we know who has been running the last four years of economic turmoil. There are two problems, however in your direction of angst.

1 – Mr Romney, if elected, has not issued, discussed or proposed raising taxes on the middle class; the class that you have so effectively buried, though obviously not with shovel ready graves. He has proposed extending the current tax rates and closing the loop holes the rich use so effectively to avoid excessive taxes.

2 – The middle class bears so very little of the transparent Federal income tax burden. I say transparent because we all, ALL citizens, pay the enormous burden of the Federal Government’s regulation policies. Gas tax, corporate tax (passed on to the consumer and among the very highest in the free world) along with a plethora of other little cuts that you and your policies make us pay

The Tax Foundation has done another great job in displaying who pays for what and just how progressive your system has become. I’ll note for honesty that the Bush Tax cuts help move the burden from the middle class by lowering tax rates and the Child tax credit. I have heard that Mr. Romney wants to extend these and close the loop holes for the very wealthy thus closing the gap.

Tax Foundation

Our Progressive Tax System

 

Thanks to blog "For love of Family and Country" for this .