Taxes Could Be Going Up; Way Up For Some

[OKCHunter]

This could create a drag on the economy.

From the AP:


A big package of tax cuts first enacted a decade ago are set to expire at the end the year, unless Congress and the White House reach a deal to extend them. How the looming tax increases would affect households at different income levels.

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Annual income: $20,000 to $30,000.

Average tax increase: $1,064.

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Annual income: $30,000 to $40,000.

Average tax increase: $1,417.

___

Annual income: $40,000 to $50,000.

Average tax increase: $1,729.

___

Annual income: $50,000 to $75,000.

Average tax increase: $2,399.

___

Annual income: $75,000 to $100,000.

Average tax increase: $3,688.

___

Annual income: $100,000 to $200,000.

Average tax increase: $6,662.

___

Annual income: $200,000 to $500,000.

Average tax increase: $14,643.

___

Annual income: $500,000 to $1 million.

Average tax increase: $38,969.

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Annual income: More than $1 million.

Average tax increase: $254,637.

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Source: Tax Policy Center

 

[criticalbass]

My taxes will go 'way down, what with the loss of income if we take the hit from not resolving the "cliff."

Means I'll spend less, to the detriment of the economy, and those whose jobs depend on my spending will lose theirs, you get the picture.

 

[Profreedomokie]

I think everyone should go on strike until the laws are changed so that the rules apply to the rulers.

 

[vicious]

This and the ideas being floated around by the .gov all have a flaw. They don't adequately address the necessity for our government to live within their means. As much as this will hurt, we need to face facts. We have got to either reel in spending or raise taxes on everyone. Unfortunately no one is willing to make the hard decisions or take the hit.

 

[cowzrul]

This and the ideas being floated around by the .gov all have a flaw. They don't adequately address the necessity for our government to live within their means. As much as this will hurt, we need to face facts. We have got to either reel in spending or raise taxes on everyone. Unfortunately no one is willing to make the hard decisions or take the hit.

A balanced budget or even an attempt at one wouldn't hurt would it?

 

[ByrdC130]

Wonder if the money I get from the gov for my AR's will offset my tax increase, or will that money need to be reported as income like a refund check?

 

[cjjtulsa]

It's been said that the most effective way to really get the people's point across to the government is to get a large portion of people to just not file their tax returns. Could you imagine the impact if all of those that signed the online secession petitions would instead refuse to file their tax returns? Would be pretty hard to find enough IRS agents to track down two or three hundred thousand people. And if many more did the same? But no one wants to risk being the only one to stick his neck out and face the wrath of the brownshirts.

 

[_CY_]

This and the ideas being floated around by the .gov all have a flaw. They don't adequately address the necessity for our government to live within their means. As much as this will hurt, we need to face facts. We have got to either reel in spending or raise taxes on everyone. Unfortunately no one is willing to make the hard decisions or take the hit.

why is there NO mention of cutting out all the billions of tax credits to folks that has NO business getting. like all the Billions $$$ given to oil companies to are raking in record profits. what about all the subsidies given to producing alcohol???? , Billions $$$ given to Israel each year, etc, etc, etc... this is list could rack up quickly to a sum that matters ....

yet all we hear about is cuts into medicare and SS ... these so called entitlements that I've been paying into my entire working life. this is not charity... these are benefits that I've been paying for my entire life.

 

[Hawgman]

I know this is crazy talk, but it seems to me the solution is pretty simple. Stop giving hundreds of millions a year to Mexico and Venezuela and billions a year to the Keep Europe Afloat Fund. These staunchly socialist countries look down their nose at us and disparage us continually on the world stage. Yet as they break down under the weight of their oh so proudly held entitlement systems we are deciding to subsidize their cushy nonsense cradle to grave life. They brag at how smart they are as we pump money into them to keep the non-sustainable existence propped up. Frankly, I'm tired of subsidizing their arrogant ways. I guess they are smart. They have us borrowing trillions so we can give them billions all the while we are being sucked down with them as they circle the drain. In the mean time we are being told we have to suck it up, pay lots more in taxes, have our social programs (meager by Euro standards as it is) cut and possibly in the not too distant future surrender part or all of our retirement portfolios. Europeans are very quick to say our ways are inferior to theirs, yet here we are fueling there system with our own labor.

 

[justinsaneok]

wonder what GE and google will be paying