CASH IN ON REPUBLICAN FEDERAL TAX PLAN

During times of economic trouble, every dollar counts, which is why I am applauding the efforts of our state's Republican Congress members for their assistance in providing tax relief for millions of New Jerseyans. Our state's families and taxpayers will be receiving increased deductions, lower tax rates and rebate checks, thanks to Republican members of Congress. These money saving tools will help New Jersey's taxpayers to keep more of their hard-earned money, which is the type of assistance that is desperately needed during these hard economic times. However what is disturbing to me is that the Democrat party doesn't realize that you have to give taxpayers back money to stimulate the economy. This belief is in stark contrast to their belief of hording taxpayer's money to spend on more social programs. Our focus should not be to create new ways to spend taxpayer's money! Our plan should be to return the money directly to the taxpayers, and allow them decide what to do with it. The bottom line is that America's taxpayers are losing traction against increasing taxes. The reality is that taxpayers are paying out, more than they are taking in! In the 1950's one spouse could earn a living, pay taxes, pay for his children's college tuition, and still save something for retirement. However, in today's world that is unheard of. Presently, the majority of families have both spouses working to earn a living, pay taxes, and keep up with college tuition. After all that, neither partner has anything left to save for retirement. In fact, based on current figures, the second spouse only keeps approximately 1/3 of their salary and the other 2/3 goes to paying taxes.

The federal tax relief program that has been revamped by President Bush and fellow Republicans, phases in lower tax rates for every American. The following is a list of the restructured tax rates:

39.6% reduced to 39.1%,

36% reduced to 35.5%,

31% reduced to 30.5%, and

28% reduced to 27.5%.

Once completely implemented, the United State Department of Treasury estimates that the President and Republican legislator's plan will mean the following:

43 million married couples taxes will be lowered by approximately $1,730,

104 million individuals and families will receive an average tax cut of $1,040,

11 million single mothers will be able to keep approximately $780 more of their income to make ends meet,

13 million seniors taxes will be reduced by an average of $924,

38 million families with children will receive an average tax cut of $1,463 to help pay for educational, childcare and other expenses,

39 million individuals and families will have their income tax liability completely eliminated. It is vital that our representatives on the federal level continue to work to provide tax relief to New Jersey taxpayers. It is not enough to just talk about it, we must do something about it! We must work to return more tax dollars back to the people of New Jersey, so that the taxpayers can decide how best to spend it. Concerned taxpayers should call their local congressional representatives and urge them to support the Bush tax revision. To reach Congressman Frank Pallone, call 732-571-1140; to contact Congressman Rush Holt, call 609-750-9365; and to contact Congressman Chris Smith, call 732-350-2300.