120 Days to Go Until the Largest Tax Hikes in History

Seems like it will be an exciting 2011!!

Link

In just 120 days, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011: Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates Read more: www.atr.org...##ixzz0yTYL4CZ1

S&F

If people think they're hurting now, just wait until all of these taxes take effect. Hell, our FF revolted against substantially less taxation than what we face. I wonder just how much farther the American people will allow themselves to be sheared before they say ENOUGH.

I honestly do not think that the American people have it in them to stand up for themselves anymore. Our freedoms, liberties, and money have been taken from us at an alarming rate. We the people just sit by and allow it to happen. The few that actually do stand up and say something are labeled racists, tea-baggers and a plethora of other names.

Oh well, onward the the "change" I will have to spend next year.

This is what people said would happen this year... and last year...
You'll need to provide better evidence that these taxes are going to increase than one anti-obama site.

a double whammy,,,, in nj because of less state aid, fed aid,,, and reduced income revenue,,,,,, property taxes are increasing like crazy

as much as 23%

it's harder than you think to have a re-evaluation done

the avg tax bill in nj is $7800 a year

$12,000 a yeasr isn't uncommon,,,, a $1000 a month just in property tax
that's a mortgage payment
some people pay more in taxes a month than there mortgage

a minimum wage worker couldn't even pay for that b4 taxes!!!!!!



ps--- nj avg $7800 1. ,,, highest in us
CT avg $6000 2. highest
------
difference $1800 a year

avg alabama tax bill----198.00

the difference between 1 and 2 is 1800.00 and yet the alabama average is 198.00,,, that blows my mind

[edit on 4-9-2010 by shortywarn]

Didn't Obama promise that people under $250,000 wouldn't get tax raises?

Hey, but it could be worse, under that commie republican Eisenhower, some people were on 90% tax rate! I think that other commie republican Reagan had it at 50%.

[edit on 6/9/2010 by harpsounds]

Why do you mislead people? Bush's HANDOUT to the rich in the form of a tax cut for them is being REPEALED. Taxes will go up on the upper 2%, the ones that can afford it. Why do you make it seem that taxes on the reg joe are being increased. That's dirty pool, can't the right stand on it's merits, why does fox news have to lie constantly as well, probably for the same reason. The truth doesn't go the way they want it.

Originally posted by pirhanna
This is what people said would happen this year... and last year...
You'll need to provide better evidence that these taxes are going to increase than one anti-obama site.

Uh here's one...
www.halfwaytoconcord.com...

Here's another...
newsbyus.com...

and another...
news-political.com...

and another...
www.forbes.com...

Shall I go on?? Or are all of these anti Obama sites and therefore their opinion is moot simply because they are anti Obama? Since when does that make anyone’s' opinion unaccredited?

We are been taxed already to the max by the individual states that is where we have been gouged and about to get worst with Obama care. . .

But at federal level is not so, mid term elections are too important for that, Obama drafted a new round of tax brakes and incentives like Bush did in the same package with the infrastructure "fix"