Dan Seals on Taxes

What He Says

"Well let's talk about taxes, I want to lower your taxes." -- Dan Seals, WBBM "At Issue," April 13, 2008.

"I also would not support increasing the capital gains tax." -- Dan Seals, Chicago Tribune Interview, December 11, 2007.

His Record

Supporting the Largest Tax Increase in History:

Dan Seals supported the largest tax increase in American history – roughly $683 billion over 5 years – to finance hundreds of billions in new spending. (Source: Dan Seals Web Site, Supporting House Vote 141, H Con Res 312, 3/13/08)

Dan Seals supported increasing the 10-percent tax rate bracket to 15-percent – a brutal tax hike on more than 6 million low-income individuals and families. (Source: Dan Seals Web Site, Supporting House Vote 141, H Con Res 312, 3/13/08)

Dan Seals supported reimposing the marriage penalty. Roughly 23 million taxpayers would see their taxes increase, on average, by $466 in 2011, because they are married. (Source: Dan Seals Web Site, Supporting House Vote 141, H Con Res 312, 3/13/08)

Dan Seals wanted to cut the child tax credit in half. Approximately 31 million taxpayers would see their taxes increase, on average, by $859 in 2011 – just because they have kids. (Source: Dan Seals Web Site, Supporting House Vote 141, H Con Res 312, 3/13/08)

This is how Dan Seals’ tax plan would affect average Americans:

· Raise taxes by 156 percent on an elderly couple earning $40,000
· Raise taxes by 70 percent on a family of four earning $60,000
· Raise taxes by an average of $1,833 on 116 million taxpayers
· Raise taxes by an average of $2,121 on 84 million women
· Raise taxes by an average of over $3,000 on 48 million married couples
· Raise taxes by an average of $2,323 for 43 million families with children
· Raise taxes by an average of $2,181 on 18 million elderly Americans
· Raise taxes by an average of over $4,000 on 27 million small-business owners
· Force 6 million low-income Americans to start paying taxes

Raising the Capital Gains Tax:

Dan Seals supports S.1111, the Fair Flat Tax Act of 2007 (Seals press release, April 14, 2008). S.1111 would dramatically raise the capital gains tax on most families in the Tenth District. An unmarried individual with an income of $60,000 or more would see his or her capital gain tax increase from 15% to 35%. A married couple filing jointly with an income above $30,000 would see their capital gains tax increase from 15% to 25% -- while a couple earning $120,000 or more would see that tax jump to 35%. Do you want a 10-20% increase in your capital gains tax?

Cutting the Child Tax Credit:

When the Chicago Tribune asked Dan Seals whether he would vote to extend the tax benefit provisions contained in the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003, Dan Seals said: "No, I would not." (December 11, 2007) That means Dan Seals would cut the child tax credit, hit more Americans with the Alternative Minimum Tax, increase the marriage penalty, raise capital gains taxes and increase marginal income tax rates across the board.

Raising Taxes to Pay for Government-Run Health Care:

Dan Seals has a solution to health care in America: raise taxes to provide government-run health care. Seals told the Chicago Tribune he would like to see a new Medicare program to cover Americans without insurance. How would he pay for it? "If the 47 million can't pay into it, we may have to talk about taxes," Seals said. (December 11, 2007). Dan Seals' solution to health care is raising taxes and making it harder for Tenth District families to afford their health care.

Pushing Jobs Overseas:

Dan Seals supported H.R. 5720, the Housing Assistance Tax Act of 2008 (Seals press release, May 13, 2008). In 2004, Congress took bipartisan action to stop Americas companies from moving their operations out of the U.S. and encourage foreign companies to base their operations in America. The American Jobs Creation Act of 2004 would end the double taxation levied against multi-national corporations, making the U.S. a friendlier environment to base a corporation and hire American workers. H.R. 5720 would delay the start date of this pro-American jobs policy until 2010. That would mean another year of American companies moving overseas and foreign firms choosing not to invest in America.