Six Months to Go Until The Largest Tax Hikes in History

Here's some good news for Obama supporters and the main stream media. The biggest tax hike in our history is just down the pike. Despite all those promises, despite all that transparency and all the hopey changy swoons. Yes, it's change all right. More statism, more government control, more freedoms lost. You didn't really believe he could get the money for redistribution of wealth just from the wealthy, did you? For starters. . . the Bush tax cuts are going to expire. After that, there will be the Obamacare new taxes--20 or so. Then the AMT, new taxes on employers, and changes in charitable deductions. Oh, you Democrats must just be popping your buttons, you're so proud of your guy. And your fall back will always be, "It's all Bush's fault."

"Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- 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%"

But read more here: Six Months to Go Until The Largest Tax Hikes in History

HT Murray for the link