Democrat Congresscritters have a big problem:  If they don’t extend the soon-to-expire Bush tax cuts, nearly all their constituents back home will be hit with the biggest tax increase in American history.

According to a new analysis by Deloitte Tax LLP, a tax consulting firm, a family of four with a household income of $50,000 a year would get slapped with $2,900 more in taxes in 2011.  The same family making $100,000 a year would see its taxes rise by $4,500.

The folks that actually run businesses and hire Americans face even bigger tax hikes. A family of four making $500,000 a year would pay $10,800 more in taxes. The same family making $1 million a year would get a tax increase of $53,200.

The estimates are based on total household income, including wages, capital gains and qualified dividends. The estimated tax bills take into account typical deductions at each income level.

Democrats have been whining for the last ten years that tax cuts enacted in 2001 and 2003 under former President George W. Bush were nothing but a windfall for the wealthy.  While they did help the wealthy, they also reduced taxes for the working poor, the middle class, and just about everyone in between.

Those tax cuts are gone at the end of this year, just in time for a high-stakes debate leading into the Midterm Elections in November.  If this less-than-competant Congress fails to act, families at every income level will see more taxes being withheld from their paychecks come January.

The tax cuts enacted in 2001 and 2003 reduced marginal income tax rates at every level. They also provided a wide range of income tax breaks for education, families with children and married couples.

Taxes on capital gains and dividends were reduced, while the federal estate tax was gradually repealed, even if it was only for this year.

President Barack Hussein Obama (peace be unto him) wants to extend  the tax cuts only for individuals making less than $200,000 and joint filers making less than $250,000 in adjusted gross income. That’s income from wages, capital gains and dividends, before standard deductions and exemptions are subtracted.

All you evil wealthy capitalists (except for Mr. Soros, who wants the rest of us to be the Proletariat) MUST be punished, even at the cost of Americans’ livelihoods.

Republicans and a growing number of Democrats in Congress (who actually possess a spine) want to extend all the tax cuts, at least temporarily.

On Thursday, House Republican Leader John Boehner of Ohio said he wants an up-or-down vote on extending all the tax cuts before congressional elections in November.

Boehner said:

Raising taxes on anyone, especially small businesses, is the wrong thing to do in a struggling economy.  On the issue of job killing tax hikes the American people are not going to accept anything less than the vote that they deserve.

House Speaker Nancy Pelosi, D-Calif., trying to save Democrat seats in the House, refused to commit to vote on any tax proposals before the election. She did, however, pledge to address them by the end of the year.

Pelosi told reporters Thursday:

The only thing I can tell you is that the tax cuts for the middle class will be extended this Congress.

Can you say:  LAME DUCK SESSION?

According to a new Associated Press-GfK Poll, more than half the country backs raising taxes on the richest Americans,  The survey showed that by 54 percent to 44 percent, most people support raising taxes on the highest earners.

39 percent agree with Obama, while 15 percent favor raising taxes on everyone by allowing the cuts to expire at year’s end. Still, 44 percent say the existing tax cuts should remain in place for everyone, including the wealthy.

In contrast, a poll conducted by RasmussenReports.com shows that 51 % of Americans favor extending the Bush tax cuts for everyone.

While Obama’s plan would spare about 97 percent of Americans who actually file tax returns, it would mean huge tax increases for the wealthy.

According to the afore-mentioned analysis by Deloitte Tax, under Obama’s plan, a family of four making $325,000 a year would get a tax increase of $5,400, while the same family making $1 million a year would get a tax increase of $56,300.  A family of four making $5 million a year would get a tax increase of $325,600.

San Fran Nan whines that the nation cannot afford to extend tax cuts for top earners:

I see no justification for going into debt to foreign countries to underwrite and subsidize tax cuts for the wealthiest people in America.

What part of the fact that these are the people who actually start businesses and hire people, don’t you understand, Madame Speaker?  Gimme that gavel.

According to congressional estimates, making all the tax cuts permanent would add about $3.9 trillion to the national debt over the next decade. Obama’s plan would cost a little more than $3 trillion over the same period.

So, basically, Scooter and his minions are ignoring the economic growth that lower tax rates have been proven to create (please research a guy named Ronald Reagan), while proclaiming a  savings of 900 billion.

This information is coming from an administration and congress that have run up the biggest national debt in U.S. History. 

Hey, Scooter.  Considering your fiscal irresponsibility, using the defense of saving money in order to burden American taxpayers with the largest tax increase in American History is a bit disingenuous, isn’t it?