- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%
Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.
The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.
Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.
Second Wave: Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
More Here..
Dividend 39.6?? Holy Crap!!
ReplyDeleteObama is the greatest president of ALL time!!!
ReplyDeleteI am so glad I voted for him. He is bringing the change this country needs.
The Kenyan sock puppet needs a few more rounds of golf and better benefits for his southern invaders, pay up you flunky blood bags.
ReplyDelete"For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million."
ReplyDeleteFWIW: There is an easy loophole to avoid the death tax. You can set up a life insurance trust in the amount to be given to the recipient on death. The insurance is tax exempt.
It doesn't stop at the Federal level. We have four levels of taxation here in Missouri. We will also be bled by our city, county, and state governments. We will see fees and taxes keep increasing at the same time services and programs are guttted. It is going to be a long and rocky road.
ReplyDeletelooks like i have to stop working and go on government assitance..
ReplyDeleteIt doesn't pay to wotk
12:46, what you do is not work. If it was, you wouldn't be reading or posting to this article. If you collect money for what you do, which is nothing of import, then you are a thief, and you should pay it back to the people you stole it from in the form of taxes.
ReplyDeleteVat is coming.They just wont call it that.
ReplyDelete:01 so the banks are thieves, as is GM and Goldman Sachs, and the list extends as long as a city block.
ReplyDeleteHere we go again sheeple: The government "prints" fake money, they give it to the banks at a discount. They lend the fake money to the sheep. The sheep pay the fake money back with huge interest. This is CRIMINAL. GET IT ...
"FAKE"!
Having a false or misleading appearance; fraudulent.
n.
1. One that is not authentic or genuine; a sham.
1. To contrive and present as genuine; counterfeit.
2. To simulate; feign.
1. To engage in feigning, simulation, or other deceptive activity.
But who, or what, is the Government, 1:28? The Government is a tool. It's a scapegoat. It's used to push the agenda of Corporatism, and then take the blame for the destruction of Corporatism. It serves as a foil for Corporatism.
ReplyDelete12:46, the Mexicans, most likely illegal, painting the hosue across the street are working. They don't have the time to review this blog or comment on it. You do have the time, and the inclination, to read and comment, therefore whatever you do, it's not real work.
ReplyDeleteIronically, the idiot across the street was complaining to me several months ago about the illegal immigrants taking all of our jobs and using all of our services for free, and here he's employing them to paint his house. What a hypocrite. I'm sure he would claim that it's the employer's job to make sure the employees are legal, not his job. He chose that company because they gave him the cheapest quote, and it was the cheapest quote because they are paying illegal workers next to nothing. You want to stop illegal immigration, pass a livable wage law where a house painter can earn enough of an income to support a household and make it illegal to pay anything below that livable wage. That would be the end of Illegal Immigration.
1:52 how come CANADA does not have the illegal immigrant problem? They go through the usual loopholes to enter the country and pick tobacco for a living wage. Of course the government takes all their wages in the form of various taxes. See? Nobody to fight with. Just another government scam and it makes the dumb happier and docile.
ReplyDelete"12:46, what you do is not work. If it was, you wouldn't be reading or posting to this article. If you collect money for what you do, which is nothing of import, then you are a thief, and you should pay it back to the people you stole it from in the form of taxes. "
ReplyDeleteToo BAD I have my own company and work for MYSELF...I would luv to pay it back to MYSELF
LOL
@ 1:46 PM
ReplyDeleteI probally pay more taxes in One year than you have paid in a lifetime....Go cry somewhere else..
I view this blog on My time .I do not work for YOU
And just what do the sheeple slaves think about these tax hikes? See below for answers:
ReplyDeleteSheeple no.1: "Who's on 'Dancing with the stars tonight'?"
Sheeple no.2: "Man, if the cowboys don't win the super bowl this year, I'm gona go ballistic!"
Sheeple no. 3: "Taxes are a good thing, starving people in Iraq and Canada can get ice cream and educate people in China".
Baa baa sheeple, have you any money?
Yes sir, yes sir, three hundred dollars full!
Two hundred for the government, one hundred for the cable tv provider,
And none for the little boy who lives down the street.
Baa....
Free ObummerCare for Everyone!
ReplyDeleteJust take your Pill...
Everything will be alright
I read the whole article and nowhere does it tell me which basketball team Lebron is going to play for. mad.
ReplyDeleteWow, this is going to get really ugly..........
ReplyDeleteSchwarzenegger's imposition of minimum wage salaries is pure austerity in-action .
ReplyDeleteBut never mind .
In this “brave” move by the Terminator,his solution may contain the seeds of the solution for the states declining revenues and growing debts.a market has been created!
The Cali state should move into and claim a monopoly of the “payday loans” business There will be plenty of applicants and lots of profit to be got from the state workers
if ever they get their backpay.
He could then proclaim “economic recovery”in the Obama manner.
Anything is possible in bankrupt ponzi casino capitalism creative paper financing .
No crazier than AAA rated sub prime loans or mark to fantasy accounting of reserves by the banks.
Or helicopter Ben printing money in order to pay the interest on past debts.
Government spending increases can be counted as rising GDP and this increased GDP figure
is proof of national recovery.
Its so easy ,all this accounting stuff Arnold ,just dont be a girlyman wimp.
2:37, any money you have made was not made, it was stolen. You need to give it back. If you don't, we're going to take it back. You're a thief, and the time is quickly approaching where you, and countless others like you, will be brought to justice for riding a wave of material indulgence on the blood, sweat and tears of others.
ReplyDeleteObama's healthcare plan is not free...it was a boon for the insurance companies because it was written by the insurance companies. That's more duplicitous Republican claptrap either posited by a Republican operative or believed by one of their idiot followers.
“History records that the money changers (central banks,IMF.) have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance”. — James Madison
ReplyDeleteOf couse the masses must relearn this lesson in US history over and over because Ignorance is Bliss, or more exactly Ignorance is DEATH.