April 22, 2008

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BY THE NUMBERS: The Impact of Tax Increases

The Heritage Foundation
April 2008

http://www.heritage.org/

$2.4 Trillion: The overall tax increase faced by American families, seniors and businesses if President Bush's tax cuts expire.

$1,716: The average tax increase for over 100 million Americans if tax cuts are allowed to expire.

$2,034: The average tax increase that will hit 17 million seniors if President Bush's tax cuts expire.

8.3 Million: The number of jobs created since the tax cuts of 2003.

$91 Billion: The cost of reinstanting the Death Tax.

$29 Billion: The amount spent in 2006 by Congress on frivolous "pork" projects that use taxpayer funds to reward local special intrests and pressure groups.

44 Million: The number of married couples affected by the Marriage Penalty before it was reduced by President Bush. These families will be hit hard once again if the Marriage Penalty is reinstated.

$1,480: The average cost in 2000 for couples punished by the Marriage Penalty.

108 Billion: The reduction in the federal deficit in 2005 thanks to economic growth sparked by Heritage-backed tax cuts.

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