Provide Real Middle Class Tax Relief

A variety of regressive Bush Administration tax policies have actually resulted in a critical redistribution of income, from the bottom to the top, from the poorest to the wealthiest. According to the Center on Budget Policy Priorities, Bush Administration tax policies “have conferred the most benefits, by far, on the highest-income households — those least in need of additional resources — at a time when income already is exceptionally concentrated at the top of the income spectrum.” Moreover, it now appears that these tax policies have had very minimal affect on investment in America, job creation and meaningful industrial expansion – just the opposite of what Bush Administration officials told us these policies would accomplish!

Anita de Palma says, “Our tax code must become more progressive.” To accomplish this, Anita de Palma would fight to return to a progressive tax rate where, based on an ability to pay, middle and working class tax payers pay less and wealthy income earners pay more. In addition, Anita de Palma will push for extended child tax credit and marriage penalty relief and, require that only individuals with household incomes in excess of $500,000 would be subject to the Alternative Minimum Tax (ATM). She would also create a 10% Mortgage Tax Credit for homeowners who can not itemize their taxes. These actions will give middle and working class Americans meaningful, REAL tax relief. In every case, whenever taxes became more progressive, history has shown that investment in America and American job creation has dramatically increased.

This is a BRIGHTER WAY!

The Critical Challenges We Now Face

The Impact of Current Tax Policy on the Middle Class : The Congressional Budget Office found that, over the next 10 years, total cost of the Bush Administration’s tax policies will equal $3.9 trillion. The burden of paying these lopsided costs will ultimately, and disproportionately, have to be shouldered by middle and working class Americans. One can make a reasonable assumption that these payments will have to come in the form of middle and working class Tax Increases, totally obliterating the false specter of the middle and working class tax cuts that the Republicans continue to foist upon the American Public.