Tuesday, April 7, 2009

Protest Rally Planned For Tax Day

In an effort to communicate dissatisfaction to national leaders, area residents are invited to join peaceful, organized protest rallies regarding astronomical taxing methods to which many stand opposed.

           
The local TEA (Taxed Enough Already) party rally will get underway at noon on April 15, 2009, at the Lawrenceburg City Administration Building on West Gaines Street. (Watch Video)

 

On the day we are all expected to have paid our taxes, Wednesday, April 15 something even more important is happening. The American Family Association (AFA) and other groups are encouraging all Americans, especially Christian conservatives, to join one of the many TEA party protests being planned for that infamous day. Many TEA party protest rallies will be happening simultaneously across the country in front of town halls. The TEA party rally will begin at 12 noon

**How much is 1 trillion dollars?

A stack of one trillion one-dollar bills would reach 68,000 miles in space. If you spent $1 million dollars a day from the day Jesus was born until now, you would only have spent about three quarters of a trillion.

If you laid one trillion one-dollar bills end to end, it would make a chain from the earth to the moon 200 times. One trillion dollars would stretch nearly from the earth to the sun. It would take a jet flying at the speed of sound, reeling out a roll of dollar bills behind it, four years before it reeled out one trillion dollar bills. A million seconds is 11.5  days. A billion seconds is 32 years.  A trillion seconds is 32,000 years.

Record Spending In The Budget: The budget increases spending to $3.9 trillion in 2009, or 27% of GDP – the highest level since World War II. This is simply too much spending and will lead to higher taxes, slower economic growth, and fewer jobs for middle class families.

Historically High Deficits For The Next Ten Years: the  budget promises historically high deficits stretching out until 2019, when the budget deficit will stand at $712 billion.

A Record Deficit In 2009: The budget would produce a $1.75 trillion deficit, or 12.3percent of GDP, in 2009. This deficit level is more than three times the previous record deficit.

$24 Billion Spent A Day: Over the first fifty days of the new Administration, approximately $24 billon has been spent a day, most of it with borrowed money.

Doubling The National Debt Over The Next Eight Years: The budget doubles the national debt over the next eight years.

Trillion Dollar Increase In Entitlement Spending: The budget includes a $1 trillion increase in entitlement spending over ten years. The budget dramatically increases entitlement spending while doing very little to improve the budget impact of existing entitlement programs.

Increasing Your Families' Share Of The Debt: The current debt per capita exceeds $35,000. The budget would double the national debt in only eight years, thus ballooning your share to approximately $70,000.

Growing The Debt At Record Pace: During the last eight years, the debt rose by $4.9 trillion. The proposed budget will exceed that within three years.

Skyrocketing Net Interest Payments: Beginning in 2012, and every year thereafter, the government will spend more than $1 billion a day in net interest. By 2019, the government will spend $1.7 billion per day on net interest.

The Largest Tax Increase In American History: The budget will raise taxes by $1.4 trillion over the next ten years.

Harming Small Businesses: The budget will raises income taxes harming the many small businesses that pay taxes at the top two individual rates. According to the National Association of Manufacturers, 68 percent of American manufacturers pay taxes at the individual income tax rate and most of them will see their taxes increase.

Higher Energy Prices: The budget will lead to higher energy prices and a tax for every American who uses energy. The cap-and-trade proposal represents a new national climate tax that will cost every household up to $3,128 annually in higher costs for natural gas, electricity, home heating oil and gasoline.

Hurting Charitable Giving: The budget will put a new tax on charitable giving that could cost American charities as much as $16 billion a year. This will harm numerous organizations at a time when many of these groups are now struggling with the economic downturn.

Harming The Housing Market: The budget will harm the housing market by limiting the mortgage interest deduction and making it more expensive to purchase or afford a new home. As the National Association of Realtors reports, lowering this deduction will impact all home prices and values for all Americans.

Bringing The Death Tax Back: The budget brings back the estate tax – currently scheduled to be repealed next year – re-imposing a heavy tax burden on small businesses and family farms.

Taxing Charitable Contributions Will Deter Giving: Included in the tax increase is a cap on itemized deductions for charitable giving. By putting a new tax on charitable giving, the budget could cost American charities as much as $16 billion a year.

Increasing Taxes On Charitable Giving Comes At A Time When Millions Of Charities Are Struggling With The Economic Downturn: Many charities are now struggling with the economic downturn. Taxing charitable giving will only make it worse for these organizations and would cause many to shut down. Charities depend on donations – by lessening the deduction the public is discourage from giving.

 

The Largest Tax Increase in American History: The budget will raise taxes by $1.4 trillion over the next ten years. The cap-and-trade proposal is expected to raise at least $646 billion alone.

A Tax Increase On Families Of More Than $3,000 A Year In Higher Energy Prices: The cap-and trade proposal in the budget will lead to higher energy prices and a tax for every American who uses energy. The cap-and-trade proposal represents a new national climate tax that will cost every household up to $3,128 annually in higher costs for natural gas, electricity, home heating oil and gasoline.

Tax Burden Would Hit Lower-Income And Middle-Income Families The Hardest: The cap-and trade tax is highly regressive, impacting most the lower-income and middle-income families who spend a greater portion of their monthly income on energy than higher income earners.

Potential To Destroy Anywhere From 1.8 Million To 7 Million Jobs*: National Association of Manufacturers estimated a net job loss of 3 to 4 million; the Heritage Foundation estimated job losses between 1.8 and 5.3 million; and Charles Rivers Associates estimated job losses as high as 7 million

Stifling Economic Growth*: The Environmental Protection Agency estimated a decline in GDP of $238 billion (0.9%) to $983 billion (3.8%) in 2030 and $1,012 billion (2.4%) to $2,856 billion (6.9%) in 2050. The Heritage Foundation estimated a decline in GDP of $1.5 to $4.8 trillion.

Higher Energy Costs*: The Environmental Protection Agency estimated a rise in electricity costs of between 44% and 79%. The National Association of Manufacturers estimated an increase of between 101% and 129%.