Delaware Election, Chris Coons, Tax Man, Christine O’Donnell, Delaware Senate Race, Tax Cuts, New Castle County, Property Taxes, Sewer Taxes
Chris Coons Taxman wants your vote- Paul G. Collier
In the 2003 campaign to elect the New Castle County executive, Chris Coons pledged he would not raise taxes. He pulled a George HW Bush when he pledged he would not raise property taxes or sewer taxes. Six years later, the people of New Castle County have seen their property taxes jacked up over 50%, while their sewage fees have also dramatically spiked.
These facts are important to keep in mind as we get set to elect a Senator in Delaware that will immediately take office and have the power to effect critical decisions on taxes the Lame Duck Congress is set to make before a very important date, January 1, 2011. Chris Coons has once again pledged “no new taxes” by stating he would allow 98% of the Bush Tax Cuts to continue, but let the other 2% expire (the ones on small businesses, more on how that will affect your family later). Don’t believe his pledges on taxes. His track record does not reflect reliability.
The 2001 and 2003 GOP-led Tax cuts are set to expire January 1, 2011. There are a few ways that this date will directly affect the budgets of families across this nation. Perhaps the most startling tax hike will come in the form of a 50% spike in tax rates for the lowest rate income families. The current rate, thanks to the tax cuts of 2001 and 2003, is 10%. On January 1, 2011, this rate will rise to 15%.
It is well documented by even the Democrat Party that small businesses are the backbone of our job-producing economy. Families across the U.S are experiencing job loss, unemployment, downsizing, reduced pay that has not returned even as the stock market and large corporations have returned to record profits, in some instances. As families struggle to maintain their homes, feed their children, save for their education, small businesses are set to experience almost a 15% increase in taxes, at a time when profit margins are at historic lows.
Thanks to the tax cuts of 2001 and 2003, small businesses currently pay a 35% tax rate. Thanks to the expiration of these tax cuts on January 1, 2011, this rate will rise dramatically to 39.6%. Some small businesses barely treading water will simply go under, others enjoying some profit and growth, will see their returns flatten. These businesses will have to cut their budgets to return to sustainable profitability. Other businesses, set for real growth, which equates to job creation, will have to alter their plans of adding jobs and shore up what they have right now.
What does that mean for the average family in Delaware that is set to vote for a man who will rubber stamp Obama’s assault on family budgets? It means voting for a man who will allow YOUR taxes to spike by 50%, like he did with New Castle County residents with his property tax increases, AND stopping new jobs from being created, and more jobs from being lost by hitting small businesses with a devastating tax increase at a time when unemployment is already near 10%.
Chris Coons has already pledged not to raise taxes. He will do so again in a last minute bid to shore up a deciding Senate Seat that will enable the Obama-Pelosi-Reid tax and spend agenda to be crammed down our throats in a Lame Duck Congress he could immediately be a part of. This election on November 2, 2011, for the Senate Seat of the State of Delaware will determine the power of Obama to take your family’s money and spend it on political cronies and ‘pet’ extreme left projects. The Freedomist hopes Delaware earns its title of the First State by seating the first stop on the Obama-Pelosi-Reid agenda, Christine O’Donnell.