Lentz Silent on Tax Hike for Seniors

Lentz Silent on Tax Hike for Seniors

47 House Democrats Implore Pelosi to Stop Looming Tax Hike on Seniors

DREXEL HILL, PA – 47 House Democrats today signed a letter to House Speaker Nancy Pelosi calling for her to hold a vote to prevent the upcoming tax increase on dividends and capital gains. The letter includes signatures from Pennsylvania Democrats Kathleen Dahlkemper, Chris Carney and Jason Altmire.
 
“A dividends tax increase would impede our nation’s economic recovery by decreasing the amount of capital that companies would have access to, thereby slowing the private sector’s ability to grow and create jobs,” the letter said.
 
As the Democrats’ letter points out, “a recent study found that in 2007 over 27 million tax returns had dividends qualifying for the tax rate reduction. Of those returns, 61 percent were from taxpayers age 50 and older and 30 percent were from taxpayers age 65 and older.”
 
“Raising taxes on capital gains and dividends could discourage individuals and businesses from saving and investing. We urge you to maintain the current tax rate for both dividend and long-term capital gains taxes,” the letter concludes.
 
The letter comes less than two weeks after House Democrats authored a similar letter to Pelosi calling for her to hold a vote to extend all of the 2001/2003 tax cuts.
 
According to news outlets, Bryan Lentz opposes an extension of the tax cuts for all taxpayers. During the second debate between the 7th District candidates for Congress, Bryan Lentz “said tax cuts should be extended for the middle class, but he does not want to bring them back for citizens who make in excess of $250,000 a year” (Danielle Lynch, “Lentz, Meehan battle over ‘failed policies'”, The Delaware County Times, 8/27/10)
 
“While even some House Democrats are standing up to Nancy Pelosi and demanding a vote to prevent the dividends and capital gains tax increases on seniors, Bryan Lentz has again proven that he will serve as nothing but a rubber stamp for Pelosi’s tax-and-spend agenda,” said Bryan Kendro, Meehan for Congress campaign manager. “Seniors rely on dividends from investment holdings for income, but the tax policies of Lentz and Pelosi will take money out of seniors’ pockets at a time when many seniors are already struggling in this challenging economy.”
 
To help jumpstart the economy through consumer spending and investment, Pat Meehan has made the extension of the 2001/2003 tax cuts and a decrease in the capital gains tax rate central components of his Roadmap to Economic Recovery.

“The contrast between Pat Meehan and Bryan Lentz couldn’t be more stark,” Kendro continued. “Pat Meehan understands that now is the wrong time to raise taxes, while Bryan Lentz is more interested in rubber stamping Nancy Pelosi’s policies than preventing a tax hike on America’s seniors.”

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