Gingrey to Dems: Tax-hikes Threaten Growing Economy
U.S. Congressman Phil Gingrey today praised the continued strength of the U.S. economy, while warning against Democrat attempts to raise taxes and expand the federal bureaucracy. The Commerce Department reported today that the real gross domestic product (GDP) - a measure of all goods and services produced in the U.S. - rose 3.5% in the fourth quarter of 2006, far exceeding expectations.
"Our economy is running like a well-oiled machine, and now the Democrats want to throw a wrench in it by raising taxes on the American people," said Gingrey. "Our economy is daily proof that Republican economic policies have worked. Lower taxes have increased productivity, delivered higher federal revenues, and driven down the deficit. And the American people, especially hard-working Georgians, have reaped the benefits. Seven million new jobs have been created since 2003, and real wages rose nearly 2 percent last year. In fact, real after-tax personal income is up nearly 10 percent over the past six year - that's equivalent to an extra $2,800 in each worker's pocket."
"I find it unconscionable that the Democrat leadership still subscribes to the old tax-and-spend mentality," Gingrey continued. "If Nancy Pelosi really wants to help American families, she would bring up legislation to make permanent the successful tax relief passed by Republicans in 2001 and 2003. Instead, in the first three weeks of the 110th Congress, the Democrats have refused to include tax relief for small businesses in their minimum wage bill and have enacted House rules that almost necessitate raising taxes to pay for new government spending. I fear for the wallets of my fellow Georgians if this approach continues in Washington."