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Don't allow tax cuts to expire

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Thank you for attempting to educate citizens [with an editor’s note] about taxation in regards to "How Greedy," the Hotline caller's reference to the "Bush tax cuts."
For those that choose to be informed, if the tax cuts of 2001 and 2003 are allowed to expire, all taxpayers will pay more.
For example, those earning $50,000 will pay nearly $3,000 more in federal taxes per year; if the income is $100,000 per year, the increased tax burden rises by more than $4,500.
Those least able to afford to pay more in taxes will be hit harder, in addition to the increased taxes and fees we will pay at the state and local level (see: Grayson County 44 percent property tax increase).
Additionally, those with disposable income will see it shrink, thus perpetuating the downward spiral of decreasing tax revenues on sales, property, etc.
And don't forget, when federal revenues decline, localities must make up the difference for essential services (again, please see: Grayson County property tax increase).
Isn't it time we all come together to demand accountability from all of our leaders, instead of bickering over presidents past? The very future of our nation depends on it.

Mark Peters
Galax