Foreshadowing

If Democrats retake the House, Charies Rangel of NY will chair Ways & Means. Want to know what he thinks about your taxes?

Via NRO, originally sent from Rep. Boehner's office:

Rangel's accession to the chairmanship of the committee would likely end six years of tax cuts by the Republican- controlled Congress. He said he "cannot think of one'' of President George W. Bush's first-term tax cuts that merit renewal.

(Taken from an interview with Bloomberg News.)

Which tax cuts, you ask?

• Child Tax Credit
• Marriage Penalty Relief
• AMT Relief
• Death Tax Relief
• Tax Relief for the Families of Fallen Soldiers
• Lower Tax Rates on Capital Gains & Dividend Income
• Work Opportunity Tax Credit
• Tax Free 529 Accounts for College Savings
• Saver's Credit
• Higher Pension / IRA Contribution Limits
• Tax Credits for Hybrid Vehicles
• Tax Credits for Alternative Fuels
• Charitable Giving Deductions

Not to mention the decrease in income tax rates for every single bracket, bottom to top.

No mention by Rangel, of course, about cutting spending, which is the real need. Can't snip those entitlements.

Even with the cuts, federal receipts are increasing much more than anticipated, so having the government cry poverty is a bit ridiculous.

So, if you have no family, don't save anything, don't work, don't want to work, and make very little, you're OK.

Otherwise.....you're screwed and a Democratic House will mean you pay a lot more in taxes, because a lot of these cuts will disappear or sunset automatically.