Posted on 04/01/2009 9:18:06 AM PDT by Sub-Driver
Senate Tax Chair Wants Vote This Year to Raise Taxes on People Making as Little as $104,425 Wednesday, April 01, 2009 By Matt Cover
(CNSNews.com) - Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee which has jurisdiction over federal tax law, is seeking a vote this year on legislation that would increase the income tax rates on some Americans who earn as little as $104,425 per year.
The bill, which Baucus introduced Thursday, would fulfill many of President Barack Obama’s promised tax changes, including making most of the tax cuts enacted under former President George W. Bush permanent while raising taxes on Americans making more than $250,000 per year.
But those making more than $250,000 per year would not be the only ones to see their taxes go up if Baucus’s bill becomes.
The proposed legislation would raise the rates on the top two income brackets, from the current levels of 33 percent and 35 percent respectively, to 36 percent and 39.6 percent. The new rates would become effective after 2010.
The increase in the rates for these two brackets will affect all taxpayers who fall into these two brackets regardless of their filing status, according to Heritage Foundation Senior Policy Analyst Curtis Dubay, who reviewed the legislation.
That means some taxpayers earning as little as $104,425—far less than half the $250,000 threshold President Obama set for raising income taxes—would see their income tax rate increased.
(Excerpt) Read more at cnsnews.com ...
So when do we drop out and form a community like the Amish, Call us the “Randish” and become self sufficent, divorced from these idiots.......
BRING IT ON !
My fear was the Dems would wait until AFTER 2010 to kill our country. ... Seems like they can’t help themselves.
“Also.... $104K is not rich.”
Of course not. Unfortunately, the Dems are apparently defining it that way.
tar and feather?
someone’s bound to think that a racist remark.
The lie on their left side, then lie on their right side, then lie on their backs. The key thing is that they lie as much as possible.
Is that increase per HOUSEHOLD or per TAXPAYER???
“O” has shifted from Taxpayer to HOUSEHOLD.
The bill, which Baucus introduced Thursday, would fulfill many of President Barack Obama’s promised tax changes, including making most of the tax cuts enacted under former President George W. Bush permanent while raising taxes on Americans making more than $250,000 per year.
The good news is that I can now quit my third job! The bad news is that I'll have to quit my third job.
If you weren't poor before the tax, you soon will be.
Good news from the law offices of "Dewey, Cheatham and Howe"
“Cap and Trade” is primarily a tax on the poor.
Camel, meet straw. Seeing as this might make a lot of people go broke, wouldn't this be "Breaking News"? ;-)
I get so confused, but then, so apparently did a lot of the chumps who voted for the O-Man.
This is precisely what the European pigs who are more equal have been doing since the dawn of Euro socialism.
Socialism, creating a nation of thieves living peacefully together!
One wonders if there was any paper other than toilet tissue used when President 'O' was writing out his campaign promises. I know that campaign promises are ephemeral but it seems that he is doing a 'better' job at ignoring, bending and breaking that the usual new POTUS. He was elected even though he was just about the least experienced candidate in history.
Thanks MSM and I hope that justice will be served to you too. If GE gets TARP and GE owns NBC and its derivatives, are all of their people getting a salary shave? If not WHY NOT!
Wonder what they will do when eventually there is a tax revolt and half of America doesn’t pay them and tells them to FO.
Start shooting for the lower end of mediocrity, folks...for now, that's the safe zone.
all the people making 50K a year think $104K is rich
congress and obama can rob Peter to pay Paul because they will always get Paul’s vote
I think the better question is: What is the Bourgeoisie planning to do to the government?
Fantastic! I'm in. Do I need to grow a beard???
I'm not sure this is new. The hoopla over small business people making over $250,00 is based on the fact that so many people use LLCs and the income passes through to the individual return. Its household income that triggers the tax bracket.
So.. mom and dad each making $55,000 are hardly "rich" yet get taxed into oblivion because 51% of Americans don't pay taxes at all (and many get checks at the end of the tax year because they are poor!)
ALL Americans should have to pay taxes and go thought he pain and hassle of having to fill in tax returns and get them in on time to avoid penalties, audits, etc...
Section. 7.
Clause 1: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills
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