Family, Personal Income Up Due to Republican Leadership Said Pres.
Bush
With one final push before election day 2006, President George W Bush campaigned for the Republicans by praising the economy and taking credit for increasing the average income of families in the United States. Real wages grew by the fastest clip in 30 years during September, according to President Bush.
The federal deficit has been reduced by 50 percent, the president said, and he added that Republican leadership has reduced the cost of generic prescription drugs to record lows.
In the coming months, with a Republicans in control, the president vowed to fund technology and sources of fuel to "break" the nation's addiction to oil. President Bush is also calling for the development of clean-coal technologies and expanding the safe use of clean, affordable nuclear power, but he said none of these plans stand a chance if Democrats win on 7 November 2006.
In the president's words the state of the economy could not be better across the United States. Under President Bush's watch since August 2003, nearly 7 million new jobs have been created, he said, which is "more jobs than all the other major industrialized countries combined."
Take home pay for two-income families has increased too, President Bush said, and in the past 12 months those average salary increases have topped $1,327. President Bush said that after tax income per person has risen $2,660 since he landed in the White House. The figures did not account for inflation.
"The main reason for our growing economy is that we cut taxes and left more money in the hands of families and small business owners," President Bush said. "Entrepreneurs like the ones I'm having breakfast with (in Englewood, CO,) have put that money to good use. They expanded their businesses and they're creating jobs in their communities for families."
President Bush said he guarantees that if Democrats gain control of Congress on election day that "they will raise taxes."
"Democrats in Washington have consistently opposed cutting taxes. They predicted that the tax cuts would not create jobs, would not increase wages, and would cause the federal deficit to explode. American workers and entrepreneurs have proved all those predictions wrong," President Bush said.
Income taxes are scheduled to increase for wage earners at $75,000 per year or more in 2007 as part of President Bush's tax cut program, although he did not mention this in Colorado. How the rate changes though depends upon Congress' actions to either extend the current program or let it slide.
"Under current law, many of the tax cuts we passed have to be renewed by Congress or they will expire," President Bush said.
The president suggested that if taxes are allowed to increase to pre-2001 levels, small business owners "who want to expand and invest in new equipment will face a tax hike, as well. And small business owners who hope to pass on their life's work to their children and grandchildren will have to worry about their families being hit by the return of the death tax."
President Bush urged the nation to deny Democrats a vote and stick to the Republican ticket. "The last thing American families and small businesses need now is a higher tax bill, and that is what you'll get if the Democrats take control of the Congress," President Bush said.
He said that under the current leadership the citizens of the United States could trust that the Republican majority will save money by making tax relief permanent. "And now the decision is in your hands, and however you decide, I urge you to get out and vote on Tuesday (7 November 2006,)" President Bush said.
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