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'Taxmaggedon:' Average Family Will Pay $4K More?

~ The Rebel ~ 2012/04/18 19:07:29
The average American family will be hit by a $3,800 increase in their taxes come
the New Year unless Congress acts to extend a series of breaks.

Several
different tax “holidays’ expire at the end of the year, Fox
News
reports, and put all together would rake in an extra $500 billion to
the national coffers.
January 1, 2013 even has a name – Taxmageddon.

"Almost the entire tax code has been put on a year-to-year lease, and in some
cases, month-to-month lease, which is no way to run a tax system," Scott Hodge
of the Tax Foundation told Fox. “No American will be unscathed.”

Read More: http://www.newsmax.com/Newsfront/taxmaggedon-incre...

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  • templer003 2012/04/18 22:57:40
    templer003
    +1
    I'll bet the 49% of Americans who pay no income tax won't be worried about a thing :)
    T.E.A. anyone ???
  • Patriot Unit 2012/04/18 22:37:58
    Patriot Unit
    +2
    Oh, I am sure the Democrats and Obama are biting at the bit to get their greedy hands on that.
  • Dale 2012/04/18 20:37:09
    Dale
    +2
    And now we all should be asking why we are paying the members of Congress and Administration. With a total lock on Congress during the first two years of this Presidency, nothing was done with the tax code. With a divided Congress for the last year, nothing has been done with the code. And now we are going to wait for a "lame-duck" Congress to act on the code. Imagine that, a bunch of folks that have been voted out are going to make decisions that will effect everyone in the Nation. Yeah, Why are we we paying the lot of 'em, from Incumbent down on the Presidentual side on to Harry and John down in Congress? Why indeed?
  • Centurion~PWCM~JLA 2012/04/18 20:31:59
    Centurion~PWCM~JLA
    +3
    And from just where the hell do these fools think that these families are going to pull this $3,800 out of?

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