Ehrlich on Washington column, August 2, 1999

NEWS FROM Robert L. Ehrlich, Jr. Second Congressional District of Maryland 1407 York Road, Suite 304 Lutherville, Maryland 21093 ON WASHINGTON By Congressman Robert L. Ehrlich, Jr. 315 Cannon House Office Building Washington, D.C. 20515 Week of August 2, 1999 FROM BIRTH THROUGH DEATH: A TAXED LIFE Americans are hopelessly overtaxed. We pay the highest taxes as a percentage of the nation’s economy since World War II. The typical American family pays more than 38% of its income in taxes - more than it spends on food, clothing and shelter combined. We are taxed when we try to save for school, taxed when we get married, taxed when we try to save for retirement - even taxed when we die! That’s just too much. Families deserve a break. That’s why the House Republicans passed a comprehensive tax relief package (the Financial Freedom Act of 1999) that includes the most meaningful tax relief in a generation. The strongest evidence of all that Americans are paying too much is the size of the budget surplus - a projected $2.9 trillion. This surplus did not come from prudent investments made by the federal government. On the contrary, it was earned by hard-working Americans; they are the ones who deserve to reap the benefits of their labors. The House Republican tax relief package returns a portion of that money to American taxpayers. Specifically, our proposal returns $792 billion, or 27 cents on each dollar of surplus, to American taxpayers over the next decade. The remainder we lock away in a Safe Deposit Box to be used only for protecting Social Security, strengthening Medicare, and paying off the national debt. The Republican tax relief package, based on the principle of fairness, benefits all American taxpayers - married couples, senior citizens, working families, the self-employed, schools, and distressed neighborhoods. Major features of our tax relief proposal include the following provisions: Tax Relief for Everyone. The Republican plan provides for a phased-in 10% reduction it