Washington – As if Don Young’s proposal to raises the gas tax last week wasn’t sufficiently hostile to taxpayers, today, the Alaskan voted for the absurdly named “Patriot Tax” in the war supplemental. The amendment is an unambiguous income tax increase, imposing a 0.5% surcharge on gross income on earnings over $500,000 a year or $1 million for a couple.

Without a doubt, this tax increase will prove harmful to the economy, stifling innovation, productivity, and job growth. To make matters worse, the tax will be especially harmful on small businesses whose owners often file their business income on their individual tax returns. In fact, the Tax Foundation reports that almost 83% of all income tax returns with over $1 million in income are business owners. A tax that is supposedly on the rich will in fact hurt everyone.

“Don Young’s disregard for taxpayers is truly stunning,” said Club for Growth President Pat Toomey. “This new tax penalizes hard work, will hurt productivity and job growth, and removes more money from the private sector during challenging economic times. Next time, Rep. Young claims to fight for taxpayers, ask him why he votes to fleece more of their money.”

“We commend President Bush for his planned veto of the war supplemental, and urge all members of Congress to think about the detrimental effect of this tax increase when it comes time to sustain the president’s veto.”

PAID FOR BY CLUB FOR GROWTH PAC AND NOT AUTHORIZED BY ANY CANDIDATE OR CANDIDATE'S COMMITTEE. 202-955-5500.

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