Schneider Supports Middle-Class Tax Cuts

Congressional Leadership Fund provides no citation to support the claim that Schneider “supports an extreme tax hike on the middle class.”

Schneider: “We Can’t Raise Taxes On Working Families.” According to the Daily Herald: “Dold and Schneider have opposing views on President Barack Obama’s proposal to end the Bush-era tax cuts for those who make $250,000 yearly and up. […] Schneider said going back to higher, 1990s tax rates for those earning over $250,000 would help the economy grow. ‘We see a Republican party that continues to want to give more tax breaks to millionaires,’ he said. […]  ‘The most pernicious lie we’re seeing in this campaign is the idea that I want to raise taxes,’ Schneider said, later adding, ‘We can’t raise taxes on working families. Families are struggling.’” [Daily Herald, 10/13/12]

Schneider: “We Should Allow The Bush Tax Cuts For Income Above $250,000 To Expire.” According to Brad Schneider’s campaign website: “In Congress, I will focus on investments that will provide future security for our families and our nation. Out of the gate, we should allow the Bush tax cuts for income above $250,000 to expire, returning to the Clinton-era rates, to begin addressing our deficits. We should also end the unnecessary tax subsidies for oil corporations and stop tax breaks for companies that ship American jobs overseas. Balancing our budget is vitally important, but we cannot keep trying to do it on the backs of the most vulnerable.”[SchneiderForCongress.com, accessed 10/1/12]

Schneider: Middle-Class Tax Cuts Must Be “Extended And Preserved.” According to a statement by Brad Schneider: “We cannot raise taxes on middle-class families – period. For middle-class families who have used tax savings to buy groceries and help put their kids through college, we must make sure that tax cuts are extended and preserved.” [Schneider Statement, 7/9/12]

Those In The Top Bracket Still Benefit From Middle-Income Tax Cuts. According to the Center on Budget and Policy Priorities:

Furthermore, as Figure 2 shows, under the proposal to allow tax cuts on income above $250,000 ($200,000 for single filers) to expire, taxpayers in the top two brackets would still keep sizeable tax cuts on the first $250,000 of their income ($200,000 for single filers).

[Center on Budget and Policy Priorities, 7/19/12]

CRS: Allowing Tax Cuts For The Rich To Expire Will Reduce Deficits “Without Stifling The Economic Recovery.” According to Reuters: “Letting tax rates for the wealthy rise will not put a short-term damper on the economic recovery, according to a report by the non-partisan research arm of the U.S. Congress. […] Republicans want the cuts continued for all income groups while Democrats favor letting them expire for the most affluent Americans. ‘If the economy is still weak, a temporary extension (of all the rates) will not harm the economy,’ despite adding to the deficit, the CRS report said, citing CRS economist Thomas Hungerford. But allowing the rates to rise just for the wealthy could help ‘reduce budget deficits in the short term without stifling the economic recovery.’” [Reuters, 7/19/12]