Obama admits taxes going up

coadie · #1 07-23-2009, 03:27 PM

Taxman is coming out of the closet.

http://www.youtube.com/watch?v=k8R7X...layer_embedded

Did anyone believe him when he said taxes were not going up?

Trillions of new debt.

coadie · #2 07-23-2009, 04:34 PM

Also, in January 1, 2011, here are the taxes that are going up once the Bush ones expire:

# The Income Tax: Rates will increase between 3 and 4.5 percentage points in each bracket on January 1, 2011.

# The 10 Percent Bracket: The bracket will be eliminated on January 1, 2011, raising the income tax burden of many workers by 5 percentage points.

# The 15 Percent Bracket for Joint Filers: On January 1, 2011, the upper limit of this bracket will shrink from 200 to 167 percent of the upper limit of the 15 percent bracket for single filers, creating a marriage penalty.

# Standard Deduction for Joint Filers: On January 1, 2011, this will shrink from 200 to 167 percent of the standard deduction for single filers, creating a marriage penalty.

# The Estate Tax: The top rate for this tax will increase to 60 percent on January 1, 2011, and the value of an estate exempt from taxation will shrink to $1 million, which is less than it is today.

And of coure in the short term cigarette taxes went up plus taxes on energy and so many levels and water.

Praxeas · #3 07-23-2009, 05:09 PM

Your gas prices will also go up so that gas is 4-5 dollars a gallon not because of market prices but taxes

Esther · #4 07-23-2009, 07:39 PM

Quote:

Originally Posted by coadie

Also, in January 1, 2011, here are the taxes that are going up once the Bush ones expire:

# The Income Tax: Rates will increase between 3 and 4.5 percentage points in each bracket on January 1, 2011.

# The 10 Percent Bracket: The bracket will be eliminated on January 1, 2011, raising the income tax burden of many workers by 5 percentage points.

# The 15 Percent Bracket for Joint Filers: On January 1, 2011, the upper limit of this bracket will shrink from 200 to 167 percent of the upper limit of the 15 percent bracket for single filers, creating a marriage penalty.

# Standard Deduction for Joint Filers: On January 1, 2011, this will shrink from 200 to 167 percent of the standard deduction for single filers, creating a marriage penalty.

# The Estate Tax: The top rate for this tax will increase to 60 percent on January 1, 2011, and the value of an estate exempt from taxation will shrink to $1 million, which is less than it is today.

And of coure in the short term cigarette taxes went up plus taxes on energy and so many levels and water.

The American people are absolutely stupid to let the government take more of their estate than they get. UNREAL!!!