House Majority Whip Kevin McCarthy on Wednesday called out the Democrats for considering a tax hike that would lead to another 710,000 jobs lost in an already brutal recession.
As Congressman McCarthy noted, in 2010 a total of 139 Democrats joined with Republicans to stop a tax hike when they said the economy was too weak to do so. McCarthy cited 86 currently serving Democrats who are now considering the allowance of an effective tax increase in an even weaker economy.
Among those Democrats mulling the tax increase are Steny Hoyer, Henry Waxman, Steve Israel, and Debbie Wasserman-Schultz. The House GOP are working to counter the so-called “Taxmageddon” of January 1, 2013, when a record-setting $494 billion in tax increases is set to further damage an already weak economy.
President Obama has already broken his pledge not to raise taxes on the middle class, but he has saved his most economically damaging policies for after a potentially disastrous re-election. These would include the implementation of Obamacare, whose cost estimate has tripled since the bill was passed, and the looming “Taxmageddon.”