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One Half Trillion Dollar Tax Increase on 1 Jan 2013. AFTER the Election.

Birthpangs 2012/05/14 12:07:14
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ONE-HALF TRILLION DOLLARS OF TAX INCREASES ARE SCHEDULED TO HIT YOU ON JANUARY 1, 2013!

Heritage Foundation's Curtis Dubat reports: "It's $500 billion of higher taxes just in 2013 alone!"

"A tax hike of that size for just one year is simply unprecedented. It's going to take an enormous chunk of the economy out of the hands of the businesses and people and families that earned the income and give it to Congress to spend."

On January 1, 2013, here is what will happen:



  • The Bush-era tax cuts will expire!
  • The fix of the marriage penalty will stop, meaning many married couples will all of a sudden have to pay MORE taxes
  • Social security payroll tax, now at 4.2 percent, will be reinstated to 6.2 percent
  • The Alternative Minimum Tax will be reestablished , which means many more middle-income Americans will get treated like the wealthy in the eyes of the IRS and taxed much more
  • Parents who were writing off $1,000 in taxes for each of their children, will now only be allowed to write off $500

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Top Opinion

  • MadAsHEck 2012/05/14 17:48:03 (edited)
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    MadAsHEck
    +4
    This was forecast 2 years ago. Won't mention any names, but he was P{ooh Poohed at the time.

    And look it up! No Budget from the Congress in over 3 years now. With 3 Budgets being submitted by the house since the GOP took control, and either killed, or not even brought to a vote in the Democratic controlled Senate.

    Harry Reid says we dont need a budget, we can spend without it.

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Opinions

  • RayG 2012/05/15 03:37:13
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    RayG
    +1
    Nothing quite like a tax and spend democrat
  • Birthpangs RayG 2012/05/15 15:05:20
  • Jackie 2012/05/15 03:18:01
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    Jackie
    +1
    still tring to distroy our country
  • Birthpangs Jackie 2012/05/15 15:05:49
  • Flamingolady 2012/05/14 20:17:52
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    Flamingolady
    +1
    And BO doesn't want anyone to know about this either:
  • Iamfree 2012/05/14 19:35:59
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    Iamfree
    +2
    It isn't just Obama keeping it quiet; it's all of Congress. This is a sledgehammer that will come down on ALL Americans. I wish folks would wake up and smell the brimstone.
  • Birthpangs Iamfree 2012/05/14 19:58:42
  • tommyg - POTL- PWCM-JLA 2012/05/14 18:54:46
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    tommyg - POTL- PWCM-JLA
    +3
    And not one f**king word about spending cuts or entitlement reform.

    We have cowards running the country my friends.
  • MadAsHEck 2012/05/14 17:48:03 (edited)
    Obama is keeping the lid on this one. Because, everyone will suffer greatly
    MadAsHEck
    +4
    This was forecast 2 years ago. Won't mention any names, but he was P{ooh Poohed at the time.

    And look it up! No Budget from the Congress in over 3 years now. With 3 Budgets being submitted by the house since the GOP took control, and either killed, or not even brought to a vote in the Democratic controlled Senate.

    Harry Reid says we dont need a budget, we can spend without it.
  • Birthpangs MadAsHEck 2012/05/14 19:14:57
  • Patriot Unit 2012/05/14 17:39:07
    Other
    Patriot Unit
    +1
    Thanks to all the fools that keep electing the same brain dead into office. You get what you wish for as they say. Its so sad that we have those out there that see nothing but bigger government as the answer to all this countries ills. That is the most contemptuous eye wash I have ever seen. But all you fools go ahead and vote them back in office so you can all claim that you got what you asked for.
  • Birthpangs Patriot... 2012/05/14 19:17:00
  • Dale 2012/05/14 13:12:28
    Other
    Dale
    +2
    Don't forget a complicit and worthless Congress that does not have the intestinal fortitude to take actions on any one of the taxes until after the election is also in the mix.. Reform is needed in all areas of the tax code. That of course, and the amount of spending allowed by not reforming the tax code.
  • Birthpangs Dale 2012/05/14 14:41:45
  • Franklin 2012/05/14 12:22:33
    Other
    Franklin
    +4
    And why not ! Is finger pointing getting us anywhere , is being a liberal retard shouting lies about the rich not paying their so called fair share (being liberal means being profoundly ignorant about any and ALL economic facts and demanding others do the same) …
    Its time for this , its time for ALL the tax cuts to expire . Its time to start over and let the liberals get their 7 billion dollars a year in taxes from the rich -but- to also restore the 400 billion dollars a year liberal scum are stealing from SSI every year …
    Blaming Obama – or if your retarded +liberal President George W Bush , President Reagan , All Us history , free markets , unnamed conservative policies , white people , the first two amendments to the constitution ...etc etc (whatever Obama tells you to be mad about today) is not going to break the stale mate or stall our crash ! Game is over kids , country is bankrupt its time to hit the reset button - reset button
  • Birthpangs 2012/05/14 12:11:42
  • ack Birthpangs 2012/05/14 22:35:10
    ack
    +1
    Never ever thought he was great. Only that he is a Marxist. I felt that way about him before the last election. That's why I wrote in Bill Cosby.
  • Birthpangs ack 2012/05/14 22:39:07

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