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Just a Reminder---- THE FIRST WEEK OF JANUARY, ALL CELL PHONE NUMBERS AR BEING RELEASED TO TELEMARKETING COMPANIES AND YOU WILL START TO RECEIVE SALE CALLS...YOU WILL BE CHARGED FOR THESE CALLS...
To prevent this, call the following number from your cell phone: 888-382-1222. It is the National DO NOT CALL LIST. It will only take a minute of your time. It blocks your number for 5 years.
HELP OTHERS BY PASSING THIS ON TO ALL YOUR FRIENDS OR GO TO:
<http://www.donotcall.gov/ >
As noted, the congressional budget process is being used not only to cut benefits for the less fortunate but also to decrease taxes for the well off. This year, Congress is permitted to reduce taxes by $70 billion without any revenue offsets. Since the spending cuts only total $39.7 billion, if the legislation runs true to form, the tax decreases will exceed spending cuts, and the federal deficit will be increased significantly.
The major debate over the tax bill centers on its size and content. The House version would make permanent capital gains and dividend cuts. The current reduction in these taxes expires in 2008, but this tax cut is both the White House and Republican leadership�s highest priority. According to the research of Citizens for Tax Justice, the richest 1 percent of Americans, with an average income of $1.3 million, will get 53 percent of this tax benefit. The average tax cut for this group will be $12,000, while 78 percent of taxpayers get nothing, and another 10 percent get under $100.
While there are good reasons for tax legislation, such as reducing the Alternative Minimum Tax, which is raising taxes substantially for more and more middle-income families, it is possible to provide these necessary changes by closing tax loopholes and not extending tax cuts that benefit the very wealthy. Both the House and Senate have passed their versions of the tax bill, and Congress is likely to draft a final version in February.
The AFT is working to implement a progressive tax bill that will actually contribute to necessary deficit reduction.