The typical Iowa taxpayer this year will work through May 9 to fulfill federal, state and local tax liabilities. It's little wonder so many families depend on a double-income to make ends meet. The government is taking a bigger bite out of taxpayers' earnings. In fact, the average American family pays more in total taxes than it spends on food, clothing and shelter combined. I say enough is enough.
American workers deserve tax relief.
Consider the payroll tax used to fund Social Security. More than half of working families pay more in Social Security payroll taxes than they pay in income taxes. It has grown from 2 percent in 1949 to 15.3 percent of earnings today. The tax burden will only get worse if the federal government fails to hold the line on deficit spending. As a senior member of the Senate Finance Committee, I am working to balance the budget and give taxpayers a break.