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Old 04-17-2012, 21:01   #1
G17Jake
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Beware the Coming 'Taxmageddon'

http://www.cbn.com/cbnnews/finance/2...g-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/taxfa...ax_credits.pdf

Married couples will pay more taxes.

The Alternative Minimum Tax will increase.

and more in 2013

Last edited by G17Jake; 04-17-2012 at 21:19..
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Old 04-17-2012, 21:13   #2
ChuteTheMall
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I predict the House will vote on this before Halloween.
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Old 04-17-2012, 21:26   #3
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.
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Old 04-17-2012, 21:28   #4
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.....

Last edited by JK-linux; 05-21-2012 at 18:10..
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Old 04-18-2012, 06:43   #5
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We could cut the civilian federal gov't by 50%. Just a thought.

Vegas resorts may be hurt though.


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Old 04-18-2012, 06:52   #6
Ruble Noon
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Quote:
Originally Posted by DonGlock26 View Post

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.
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Old 04-18-2012, 06:56   #7
DonGlock26
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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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Old 04-18-2012, 06:57   #8
coastal4974
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Quote:
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That's the first thing I was thinking when I saw the thread title.
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The politicians added another $4.8 billion to our debt today.
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Old 04-18-2012, 06:58   #9
Ruble Noon
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Why do you hate the Constitution?

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JB?




































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Old 04-18-2012, 07:05   #10
DonGlock26
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JB?
Cat got your tongue.

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Old 04-18-2012, 07:07   #11
DonGlock26
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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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Old 04-18-2012, 09:37   #12
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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?
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Old 04-18-2012, 09:41   #13
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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?
To be fair, I believe the founding fathers intended for it to be defended, not attacked, by the people.
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Old 04-18-2012, 10:31   #14
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.

Last edited by cowboy1964; 04-18-2012 at 10:35..
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