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Friday, August 17, 2012

IF THE BUSH TAX CUTS EXPIRE, HOW MUCH MORE WOULD YOU HAVE TO PAY?


The discussion of the Bush-era tax cuts is one of the most reliable political footballs in recent memory. And with the December 31 deadline for the last two-year extension of the cuts looming, we can expect the debate to continue up to and through the election.

What does that mean to you and me? It all depends on where you live? CNBC’s calculations show that Mississippi taxpayers will fare better than most people, but they still are looking at an increased tax liability of just over $1,300 (per household) for the year. Connecticut residents are on the other end of the scale and may be hit with a tax increase of almost $6,000 (per household) if the Bush tax cuts expire.
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4 comments:

  1. AnonymousAugust 17, 2012 at 3:24 PM

    i hope Everyone understands what this means. it won't be a pretty picture.

    ReplyDelete
  2. AnonymousAugust 17, 2012 at 4:05 PM

    boohoo, the middle class has the lowest tax rates in 30 years and the bottom 50% don't pay ANY federal taxes, with over 100 million Americans on a form of entitlement(SS is not included in this calculation). Gotta get some skin in the game folks, can't just shake down the rich no more!

    ReplyDelete
  3. AnonymousAugust 17, 2012 at 4:11 PM

    Why? welfare recipients don't pay payroll taxes...

    ReplyDelete
  4. AnonymousAugust 18, 2012 at 9:29 AM

    Dems are blaming this on the gop when in actual fact the DEMOCRAT controlled senate has rejected this tax cut extension several times. They want higher taxes on those earning over 200 k/year & want the cuts to expire for everyone so's they can blame the gop for the rise in taxes. More money for them to waste(Around 2k/year for a family of 4)and the republicans get blamed for the increase. aRE YOU PEOPLE SEEING IT YET?

    ReplyDelete

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