Beware the Coming 'Taxmageddon'

[G17Jake]

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

[ChuteTheMall]

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

[G17Jake]

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.

[JK-linux]

.....

[DonGlock26]

UNCOVERED: Federal Government Worker "American Idle"? - Long Version and GSA Awards Ceremony - YouTube

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

Vegas resorts may be hurt though.


GSA Western Official Jeff Neely Pleads the Fifth Before Congress - YouTube
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[Ruble Noon]

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


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

[DonGlock26]

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


Why do you hate the Constitution?

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[coastal4974]

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

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

Vegas resorts may be hurt though.


GSA Western Official Jeff Neely Pleads the Fifth Before Congress - YouTube (http://www.youtube.com/watch?v=6FVnQzGQJTE)
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That's the first thing I was thinking when I saw the thread title.

[Ruble Noon]

Why do you hate the Constitution?

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JB?




































:tongueout:

[DonGlock26]

JB?
:tongueout:

Cat got your tongue. :rofl:

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[DonGlock26]

That's the first thing I was thinking when I saw the thread title.

Progressives can never bear the thought of cutting their god.


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[Chronos]

Why do you hate the Constitution?

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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?

[Gundude]

You mean other than the fact that it has completely failed its intended purpose and instead empowers a constant stream of sociopaths like Obama?To be fair, I believe the founding fathers intended for it to be defended, not attacked, by the people.

[cowboy1964]

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.