Skip to comments.Taxes go up in 2013 for 163 million workers (Typical - about a $1K increase)
Posted on 10/21/2012 3:33:05 PM PDT by Libloather
Link only - Taxes go up in 2013 for 163 million workers
Butbutbutbutbutbtutbtut Bozo PROMISED not to RAISE TAXES on the Middwle Cwass! Waaaahhhh.
I had no idea I made over $250,000................
Well, certainly not any more!
The full list of marginal rate hikes is below:
-The 10% bracket rises to a new and 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%
By allowing the 2003 Bush tax cuts to retire, taxes will be increasing the bottom rate from 10% to 15%.
Raising the 10% bracket to 15% represents what percentage of increase? (Hint: The correct answer is NOT 5%)
those moving from the 10% bracket to 15%, their taxes will be increased by 50%!!
raising the 35% bracket to 39% represents what percentage of increase: (Hint: The correct answer is NOT 4%)thats roughly an 11% increase in taxes.
What folks don't realize is this means everybody who works and has taxable income will feel it. Your initial taxable income (up to $8700 single, $17,400 married) is scheduled (in only 2 1/2 months) to be taxed at rate of 15% instead of the 10% it is now (a 50% increase). On top of this Obama's Social Security tax decrease in 2012 is also to end. Thus in 2013 FICA taxes will go from 4.2% to 6.2% (a 32% increase).
On top of this, many will see there Health Insurance Premiums increase. In my open enrollment, I see this phase "Increased due to the Patient Protection and Affordable Care Act".
Therefore the majority of working Americans are about to feel their wallets and purses lighten. And with their spending power reduced so goes the economy.
Welcome to the Fiscal Cliff America. Please thank a Democrat at the polls this November.
too bad all companies don't put this disclaimer on their products when Fed Guv Inc. adds a hidden tax/mandate.
Too bad all companies don't put this disclaimer on their products when Fed Guv Inc. adds a hidden tax/mandate.
Our company is a Hospital. They probably had to do it for what they felt was legal reasons.
The population of the US is 314,623,000 with 2.6 persons per household. Thats 121 million households in the USA.
163 million workers means that every family will get a tax increase.