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Beware the Coming 'Taxmageddon'

Discussion in 'Political Issues' started by G17Jake, Apr 17, 2012.


  1. G17Jake

    G17Jake
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    http://www.cbn.com/cbnnews/finance/2012/April/Economic-Observers-Beware-the-Coming-Taxmageddon/

    According to the article....

    The 'Bush' tax cuts end.

    The Social Security payroll tax, will return to 6.2 percent from the current level of 4.2 percent.

    The child tax credit will go from $1000/child to $500/child
    http://www.taxpolicycenter.org/taxfacts/Content/PDF/child_tax_credits.pdf

    Married couples will pay more taxes.

    The Alternative Minimum Tax will increase.

    and more in 2013
     

    Wanna kill these ads? We can help!
    #1 G17Jake, Apr 17, 2012
    Last edited: Apr 17, 2012
  2. ChuteTheMall

    ChuteTheMall
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    I predict the House will vote on this before Halloween.:pumpkin:
     

  3. G17Jake

    G17Jake
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    I can't imagine the child tax credit going back down to 500 dollars. I don't have dependents, so it makes no difference to my tax burden. As Chute posted, this will all probably be up for vote before the election.
     
  4. JK-linux

    JK-linux
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    .....
     
    #4 JK-linux, Apr 17, 2012
    Last edited: May 21, 2012
  5. DonGlock26

    DonGlock26
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    [ame="http://www.youtube.com/watch?v=vofWkCJvbDo"]UNCOVERED: Federal Government Worker "American Idle"? - Long Version and GSA Awards Ceremony - YouTube[/ame]

    We could cut the civilian federal gov't by 50%. Just a thought.

    Vegas resorts may be hurt though.


    [ame="http://www.youtube.com/watch?v=6FVnQzGQJTE"]GSA Western Official Jeff Neely Pleads the Fifth Before Congress - YouTube[/ame]
    _
     
    #5 DonGlock26, Apr 18, 2012
    Last edited: Apr 18, 2012
  6. Ruble Noon

    Ruble Noon
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    I think 100% cut would be preferable. Let's see how much government we can live without.
     
  7. DonGlock26

    DonGlock26
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    Why do you hate the Constitution?

    _
     
  8. coastal4974

    coastal4974
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  9. Ruble Noon

    Ruble Noon
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    JB?




































    :tongueout:
     
  10. DonGlock26

    DonGlock26
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    Cat got your tongue. :rofl:

    _
     
  11. DonGlock26

    DonGlock26
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    Progressives can never bear the thought of cutting their god.


    _
     
  12. Chronos

    Chronos
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    You mean other than the fact that it has completely failed its intended purpose and instead empowers a constant stream of sociopaths like Obama?
     
  13. Gundude

    Gundude
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    To be fair, I believe the founding fathers intended for it to be defended, not attacked, by the people.
     
  14. cowboy1964

    cowboy1964
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    That 2% SS cut was nice. Stupid in terms of the budget, but I'll take it.

    It's going to be interesting. They won't deal with any of this before the election, which leaves only a few weeks afterwards (even if they work through their holidays). Look for short-term stopgaps if anything. They have to do something though, there is no way the economy is going to absorb a $500 billion one year tax increase.
     
    #14 cowboy1964, Apr 18, 2012
    Last edited: Apr 18, 2012