Democrats’ Job-Crushing Tax Hikes are Exactly the Wrong Approach

August 25, 2011

FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), John Barrow (GA-12), Sanford Bishop (GA-02), Tim Bishop (NY-01), Leonard Boswell (IA-03), Bruce Braley (IA-01), Lois Capps (CA-23), Dennis Cardoza (CA-18), Russ Carnahan (MO-03), Kathy Castor (FL-11), Ben Chandler (KY-06), David Cicilline (RI-01), Gerry Connolly (VA-11), Jim Cooper (TN-05), Jim Costa (CA-20), Jerry Costello (IL-12), Mark Critz (PA-12), Henry Cuellar (TX-28), Peter DeFazio (OR-04), Raul Grijalva (AZ-07), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Kathy Hochul (NY-26), Tim Holden (PA-17), Rush Holt (NJ-12), Steve Israel (NY-02), Bill Keating (MA-10), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Jim Matheson (UT-02), Carolyn McCarthy (NY-04), Mike McIntyre (NC-07), Jerry McNerney (CA-11), Michael Michaud (ME-02), Brad Miller (NC-13), Bill Owens (NY-23), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Collin Peterson (MN-07), Chellie Pingree (ME-01), David Price (NC-04), Nick Rahall (WV-03), Loretta Sanchez (CA-47), Kurt Schrader (OR-05), Heath Shuler (NC-11), Adam Smith (WA-09), Betty Sutton (OH-13), John Tierney (MA-06), Niki Tsongas (MA-05), Pete Visclosky (IN-01), Tim Walz (MN-01), John Yarmuth (KY-03)

Matheson’s Job-Crushing Tax Hikes are Exactly the Wrong Approach
Democrats Continue to Double Down on Higher Taxes, Ignoring Economic and Fiscal Reality

Washington — Utah Democrat Jim Matheson and his party leaders are forging ahead with their demands for more job-destroying taxes in order to fuel their disastrous addiction to government spending. However, Matheson’s Utah constituents know that this is the worst time to raise taxes, and the government simply needs to stop spending money it doesn’t have.

“That Jim Matheson and his party leaders would demand higher taxes from Utah families and small businesses to fuel their spending spree demonstrates how out of touch Jim Matheson has become,” said NRCC Communications Director Paul Lindsay. “Instead, Matheson should listen to everyone from middle-class families to economists who know that Washington simply needs to live within its means.”

Washington Democrats have now single-handedly created “the most rapid increase in the debt under any U.S. president”:

“The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It’s the most rapid increase in the debt under any U.S. president.” (Mark Knoller, “National debt has increased $4 trillion under Obama,” CBS News’ Political Hotsheet Blog, 8/22/11)

Now, Washington Democrats are trying to maintain their spending spree with even higher job-destroying taxes during a bad economy, which is why economists strongly oppose their approach:

“The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases.” (“Survey: More economists prefer cuts over taxes,” Associated Press, 8/22/11)

Doubling down on their failed policies will only make the economy worse, especially since it is already suffering under their mismanagement in Washington:

“The U.S. economy won’t be operating at potential – meaning that labor and capital are fully employed – until 2017, CBO projects. That means a lousy job market for years to come. CBO expects the unemployment rate to fall from today’s 9.1 to 8.5 percent in the fourth quarter of 2012—and then to remain above 8% until 2014.” (David Wessel, “CBO: No Recession, But Growth So Slow Jobless Rate To Top 8% Until 2014,” The Wall Street Journal‘s Real Time Economics Blog, 8/24/11)

As Jim Matheson and his Democrat leaders in Washington call for higher taxes that will stifle job creation when it is needed most, his constituents in Utah and even economists know this will only make a bad economy worse. Instead, Matheson needs to use some common sense, which has been absent in Washington, and just have the government live within its means like families across America already have.

Democrats’ Job-Crushing Tax Hikes are Exactly the Wrong Approach http://ow.ly/6cubR #madeinwdc

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John Barrow for Congress