Delegate Hugo is in Minnesota this week at the Republican National Convention and should be sending updates and videos to be posted on the blog throughout the coming days.
For now ... heed the warning below.......
A Perfect Storm Brewing?
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As many watch Barack Obama and the Democrats talk about a “Change Agenda”, let everyone think about the “perfect storm” that is brewing in Denver. A perfect storm of new taxes, new spending, and liberal ideology threatens to sweep across our country.
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On spending: Beyond the “change” platitudes, if you take the time to listen to any Obama speech, you will hear him propose a litany of new spending initiatives (http://www.latimes.com/news/politics/la-na-obamaplans8-2008jul08,0,5470706). The Los Angeles Times adds up at least another $130 billion in spending in an Obama Administration. And, that is just the Obama proposals. Wait until a Democratic Congress gets to pass new spending not opposed by a President of the opposite political party.
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On taxes: Unlike in past decades when the Democratic leadership was conservative to moderate, the new Democrats in charge are liberals. San Francisco’s Nancy Pelosi is the Speaker of the House of Representatives and her Senate counterpart is the Senate Majority Leader Harry Reid. Equals in temperament and liberal ideology, Pelosi and Reid are in charge, and so are their committee Chairman.
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In last week’s Washington Post, the Charlie Rangel chairman of the House of Representatives tax panel stated ‘ "This is my last chance," Rangel, 78, said of his opportunity to make a lasting legislative imprint. "This is the big one." ‘ (http://www.washingtonpost.com/wp-dyn/content/article/2008/08/27/AR2008082703399.html) In the past, Chairman Rangel has referred to the coming legislative battle as the “mother of all tax bills” Consider the “Change Agenda” being promised and think about the current liberal leaders in Congress. The potential damage from the excesses of this perfect storm is a staggering list of new taxes and new spending.
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What is the final, and possibly most necessary, ingredient of this “perfect storm?” The last ingredient is that the tax cuts from the past decade begin to expire in 2010….personal tax rates, capital gains, marriage penalty, death tax, dividends, child tax credits and more. Depending on your estimate, almost $800 billion in tax cuts will begin to expire. The expiration of these taxes provides an influx of taxpayer dollars to a government hungry for new spending and it gives the Congressional tax writing committees an excuse to again tinker with the tax code and our wallets.
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A new Democratic President, his new spending and tax plans, new liberal leadership in Congress, and evaporating tax cuts……Obama’s winds of change will batter the economy and your family.
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My friends, board up your houses, and hide your wallets. A “perfect storm” might be just over the horizon.
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Tim Hugo
Delegate
Virginia's 40th District
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