Tax Hikes and the Coming Economic Collapse
source: http://morichesdaily.com/2010/08/tax-hikes-coming-economic-collapse/
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- MorichesDaily
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Unless the government does something on or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply.
President George W. Bush’s tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.
I have received a few emails about the increased tax burden that will affect every one of us, individuals as well as small business in the coming months. Remember what happened to auto sales when the cash for clunkers program ended? Or how about new housing sales when the $8,000 tax credit ended? It isn’t rocket science, the economy will collapse.
It won’t only be people who are in the top tax bracket who will get hit: everyone will pay more including people in the lowest tax bracket!
HOW WILL IT AFFECT YOU?: http://morichesdaily.com/2010/08/tax-hikes-coming-economic-collapse/
President George W. Bush’s tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.
I have received a few emails about the increased tax burden that will affect every one of us, individuals as well as small business in the coming months. Remember what happened to auto sales when the cash for clunkers program ended? Or how about new housing sales when the $8,000 tax credit ended? It isn’t rocket science, the economy will collapse.
It won’t only be people who are in the top tax bracket who will get hit: everyone will pay more including people in the lowest tax bracket!
HOW WILL IT AFFECT YOU?: http://morichesdaily.com/2010/08/tax-hikes-coming-economic-collapse/
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- tags:
- Taxes, Tax, ObamaCare, Small Business, 9 more
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Sparky2U
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The Democrats in Congress and in the Senate have been working to Tax us to oblivion to pay for social welfare programs brought about by Obama.
Obama is a Post Turtle. - 1 year ago
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Sparky2U
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Robotic091
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tax the rich why not when we don't the economy goes down (or at least a contributing factor to it) like the great depression the lowest tax rates before bush tax cuts and look what happened
- 1 year ago
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Robotic091
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JohnA
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We have something to look forward to.
- 1 year ago
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JohnA
