From the Tax Guy at SmartMoney. Obama’s tax plans for you are so fabulous they actually suggest you have a drink before proceeding. Here I’ll give you the headlines so please do go and read the whole thing for all the freakish details.

How the Expiring Bush Tax Cuts Affect You
The so-called Bush tax cuts are scheduled to expire at the end of the year. Although some of the cuts retain bipartisan support in Congress and may yet be extended, as of now, Washington has some severe changes in store for you and your family. Grab a scotch and sit down.

Higher tax rates for all

You may have been led to believe that only individuals in the top two brackets will face higher federal income taxes when the Bush cuts go bye-bye. Not true! Unless Congress takes action and President Obama goes along, rates will go up for everyone — not just a sliver of the wealthiest Americans…

Higher capital gains and dividends taxes for all

Return of the marriage penalty

Return of phase-out rule for itemized deductions

Return of phase-out rule for personal exemptions

The bottom line
The Bush tax cuts don’t just offer tax relief to the wealthiest Americans. They offer it to just about anyone who pays federal income taxes. Their scheduled demise next year will raise the tax bill of nearly every taxpayer, unless Congress makes changes and the president jumps on board.

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5 Comments | Leave a comment
  1. Chuck says:

    Thank you, John McCain.

  2. IloiloKano says:

    Those who vote for ANY Democrat in November, even so-called moderates, are supporting Obama’s leftist agenda. There’s NO excuse anymore.

    • bachmann2012 says:

      EXACTLY! I don’t care what kind of a Republican they are, they need your vote in this general election–including McCain (hopefully its Hayworth), Kirk, et al. I wish Republicans would all be Bachmanns out there but I’d rather have McCain than a leftist.

      AND, all Democrats will vote for Obama’s agenda if he needs them to do so to pass the bills.

  3. lawmom90 says:

    Those tax cuts helped us immensely. Along with a low unemployment rate. Bush wasn’t perfect, but he loved us and this country. Darnit.

  4. Shifra says:

    Just heard that on the day of 6/30/10, Urkel raised the US debt more than the debt was raised in the entire year of ’07. How is this possible? Impeachment, anyone?

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