Sunday, April 15, 2012

Who Cares About Taxes, Anyway?

Tax hikes scheduled for 2013 are as follows:

-- Income tax rates rise from a range of 10-35 percent to 15-39.6 percent.
-- Capital gains taxes rise from 15 to 23.8 percent.
-- The tax on dividends rises from 15 to 43.4 percent.
-- The profits tax for most small employers rises from 35 to 43.4 percent.
-- The death tax rises from 35 to 55 percent.
-- The death-tax standard deduction falls from $10 million to $1 million.
-- The Social Security tax for employees rises from 4.2 to 6.2 percent.
-- The number of households affected by the Alternative Minimum Tax rises from 4 to about 30 million.
-- The research and development tax credit disappears.
-- The marriage penalty returns.
-- The child tax credit falls from $1,000 to $500.

This doesn't include Obamacare tax hikes. 

When all of these tax increases take hold, President Obama’s popularity will rise even higher than it is now.

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