The Bush tax cuts have gotten renewed attention during the presidential campaign. Both candidates agree that the cuts should be extended for the middle class, though they differ on higher income people. But Jim Moran wants to eliminate the tax cuts for everyone, including the middle class. How does this affect you? It makes your wallet almost $3,000 thinner.
In 2010, when the tax cuts were hotly debated as they were set to expire at the end of the year, the nonpartisan Tax Foundation conducted a study to calculate the effect of letting the cuts expire, as Moran wanted, for each congressional district for the country.
According to the study, the median income for 8th District residents is $111,455 (the 7th highest in the country). Allowing the tax cuts to expire would have meant a $2,895 tax hike for the average 8th District resident.
When the House voted in December 2010 to permanently extend the cuts for the middle class, Moran voted no. And in July of this year, he went on the Bill Press Show to bash President Obama’s proposal to cut taxes again for the middle class (as well as spew hyperpartisan garbage), and in September on MSNBC, he said Mitt Romney is “promising even more tax cuts and we’re going to pay less.” Perish the thought!
It’s no surprise that Moran disagrees with Romney, but it certainly says something that he disagrees with Obama on this issue.