GOP Quote: "Should Democrats get their way; every income tax bracket will increase on Jan. 1, 2011. Every single one."
Factual Response:
Less than 3-months ago Mike Pence made this statement: Fact is the Democrat plan would have provided a tax cut to every taxpayer in America. Fact was that persons earning greater than $250,000 in adjusted gross income on their 1040 tax form would have had to pay higher taxes on the first dollar above $250,000.
This means they received a tax cut on the first $250,000 of their earnings but pay a higher tax rate on every dollar at $250,001 and above.
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