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Six Months to Go Until The Largest Tax Hikes in History
Americans for Tax Reform ^ | July 1, 2010 | Ryan Ellis

Posted on 07/05/2010 8:16:09 AM PDT by MuttTheHoople

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Read more: http://www.atr.org/sixmonths.html?content=5171#ixzz0soxbwXNO

(Excerpt) Read more at atr.org ...


TOPICS: Government; Politics/Elections
KEYWORDS: hikes; obamadepression; obamarecession; tax
I hope America elects enough Conservative Republicans to repeal these repeals in the 2010 Congressional Elections. I'm scared that we'll get the worst of both worlds- just enough GOP members to be elected, but the bulk of them too frightened to actually try to oppose Obama, with the Left frightening them by calling them "Wadical Extwemists" to keep them in line. For once, I'd love to see GOP Congressmen get in their face and fight back.
1 posted on 07/05/2010 8:16:13 AM PDT by MuttTheHoople
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To: MuttTheHoople

Both spending and taxes must be cut. In the short term, though, cutting taxes produces a bigger economic bump than raising government spending. And conversely.


2 posted on 07/05/2010 8:17:53 AM PDT by Pearls Before Swine
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To: MuttTheHoople
For over eight years, all I ever heard the leftards whine about was, "Tax cuts for the rich!!!" and yet who's going to be hit first, hardest, and worst? The lower and middle classes. Think about it...the lowest tax bracket will go up from 10 to 15 percent--an increase of 50 percent. The highest will go from 36 to 39.6 percent--an increase of 10 percent.

And the 'Rats claim they're for the "little guys". My dyin' ass.
3 posted on 07/05/2010 8:22:22 AM PDT by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
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To: MuttTheHoople

In January they plan to blame all the newly elected Republicans for this increase.
The public is informed enough to buy it, hook, line and sinker.


4 posted on 07/05/2010 8:25:22 AM PDT by CrappieLuck
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To: CrappieLuck
No they won't--especially with the efforts of the Tea Party movement. A LOT of people agree with my stance that the current income tax system is a HUGE drag on the US economy, and simplifying it to Steve Forbes' flat tax proposal or even ditching it in favor of FairTax will kick off the next American economic boom.
5 posted on 07/05/2010 8:35:53 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: MuttTheHoople

this one keep me awake at night worrying

how much of an increase in taxes will it take most of the middle class to have to severely adjust their lifestyle?

$5,000? $10,000? $15,000?


6 posted on 07/05/2010 8:41:03 AM PDT by silverleaf (Those who can make you believe absurdities can make you commit atrocities.)
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To: MuttTheHoople

This is what the dems have been waiting for. This is where the money leaves our pockets and flies into the waiting arms of big-government extremists who will use the money to make themselves rich, and pay people who vote democrat.


7 posted on 07/05/2010 8:44:42 AM PDT by Leftism is Mentally Deranged (liberalism: severe deterioration of the thinking apparattus)
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To: MuttTheHoople

Well yeah, but according to Hillary, REEEEEL patriots will be more than WILLING to pay the higher taxes.


8 posted on 07/05/2010 8:54:18 AM PDT by Oldpuppymax
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To: MuttTheHoople; All
For once I'd like to see someone blame Democrats/Marxists who are the ones destroying capitalism and America.

The Republicans did get in the media's and democrats’ face and CUT taxes in 2001 AND 2003 . Read THIS article.

Democrats are the threat to America and our way of life. They always have been. Your government doesn't work. A 4 trillion dollar government annual budget for what , global warming studies for a lie called global warming, welfare and useless government programs.The government and democrats are exploding the debt and deficit.

Government/socialism doesn't work . No government is producing a product we can hold in our hands to compete with private businesses because government can't produce any product of quality and is 1000's of times less efficient than capitalism. Democrats/Obama's bank regulators are crippling lending to businesses which is why we are in an economic depression. More 2700 page laws which further cripple capitalism like the healthcare bill are on the way from Democrats. Democrats will give illegals Amnesty, destroy the oil industry , cap and trade etc.

Republicans have too few numbers to stop anything the Demorats/Marxists try to ram through the Congress. The Democrats have a super majority in The congress and there is nothing Republicans can do now as evidenced by the Democrats ramming through government healthcare and radical liberal/marxist judges put on the Supreme Court, against the will of the people and against the will of the GOP.

WHEN Republicans had barely a majority they did the right thing and cut taxes giving the U.S. 4% unemployment which is no unemployment. It was only until the Democrat congress took power in 2006 that the economy tanked.

It is these communist Marxist/Democrats in Congress who are allowing the tax cuts to expire. Republicans have no where near the numbesr to do anything. getting in someones face won't do diddly squat as VOTING by congressmen is the ACTION that matters.

Put the blame for this growing government, rising taxes, increasing regulations, increasing take over of private industries where it belongs on the democrat party.

Republicans only had barely a majority for 12 years from 1994 to 2006 when the U.S. had one of the best economies ever. In the last 100 years except for that 12 year period of brilliant light the U.S.A has been in the darkness, under the power of the Democrat congress and that's who the blame belongs to for the U.S.A's shift to left, growing government, increasing taxes, takeover of private industries, increasing regulations,illegals, etc. The blame belongs ONLY on the Democrats who are and have been the threat to America, our way of life, prosperity , and even to freedom itself.

I'm tired of people blaming Republicans. Go donate to your Democrats. Stop drinking the media's Koolaid you GOP bashers who are legion.

9 posted on 07/05/2010 9:00:24 AM PDT by Democrat_media (Why is no government creating a product we can hold in our hands like a cell phone..?)
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To: MuttTheHoople

This should just about put us over the edge...


10 posted on 07/05/2010 9:06:16 AM PDT by moovova
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To: MuttTheHoople

Think Americans are p.o.ed now? Just wait for these bad boys to rain on America’s parade. When they kick in the words

Tax
Enough
Already

will be an understatement.


11 posted on 07/05/2010 9:17:45 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: silverleaf

Most people will just have to adjust their savings. I certainly don’t waste my time worrying about it but I will just make adjustments to my budget just like I do when other items increase. I think many people will survive this as these were what people were paying ten years ago...so people still have that money it is just attached to savings. Remember everyone had money left over at the end of the month because the taxes were decreased. However, I believe that they will extend the tax decrease for a bit longer.


12 posted on 07/05/2010 9:19:16 AM PDT by napscoordinator
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To: OCCASparky

‘For over eight years, all I ever heard the leftards whine about was, “Tax cuts for the rich!!!” and yet who’s going to be hit first, hardest, and worst? The lower and middle classes.’

Think about it for a second. To a Leftist anyone with a dollar or more in their pocket is rich. And that dollar needs to be taxed 100%.


13 posted on 07/05/2010 9:21:37 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: Oldpuppymax

I suppose thats why she hasn’t forked over 90% of her income to the Federal government... no walking the talk for Hillery eh?She IS one of the rich, she should volunteer... What? Don’t hold my breath?? LOL

They don’t even realize just how much WORSE things are going to get when those increases hit. They think it will make things better.

F****** idiots.


14 posted on 07/05/2010 9:22:35 AM PDT by Danae (If Liberals were only moderately insane, they would be tollerable. Alas, such is not the case.)
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To: Oldpuppymax
Well yeah, but according to Hillary, REEEEEL patriots will be more than WILLING to pay the higher taxes.

This is the same she-hag that wrote off Bill's donated UNDERWEAR as a charitable deduction. Color me unimpressed.
15 posted on 07/05/2010 9:24:40 AM PDT by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
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To: napscoordinator
I truly do not know how many average people can “adjust their savings” by $5K or $10K or more a year, without losing their ability to save entirely. I listen to Dave Ramsey and a lot of people live from paycheck to paycheck. The idea of having to stop or even raid retirement savings (what's left after 50% loss in 08/09) to pay income tax bills is frightening, especially since there is no more reliable stock market to invets in, and no real estate appreciation to provide a future source of wealth to draw from in retirement.

That is where I worry. And if people like me are worried about coming up with thousands more in taxes (we already did this past year with the AMT) then a lot of people could be in big trouble.

16 posted on 07/05/2010 9:36:12 AM PDT by silverleaf (Those who can make you believe absurdities can make you commit atrocities.)
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To: silverleaf

People will simply avoid taxes however they can.


17 posted on 07/05/2010 10:06:58 AM PDT by BenKenobi (I want to hear more about Sam! Samwise the stouthearted!)
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To: MuttTheHoople

Nancy Pelosi lied and hundreds of companies died.


18 posted on 07/15/2010 1:14:12 PM PDT by ully2 (ully)
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