Last Updated:October 1 @ 10:03 am

Are you ready for Taxmageddon?

By GOPUSA Staff

Get ready! Here it comes! Just like before when Congress failed to come up with permanent tax relief, Americans are once again facing a potential tax disaster. If nothing is done, then by the end of 2012, Americans will see their taxes go up substantially. Come on Republicans! Taxes should be lower, but at least don't let them get raised.

At the end of the year, some $500 billion in tax breaks expire all at once, hitting American households with an average tax increase of $3,800 -- if Congress doesn't act.

The potential increases include $165 billion more from taxpayers as a result of expiration of the Bush-era tax cuts, which would push taxes from a bottom rate of 10 percent and a top rate of 35 percent to a bottom rate of 15 percent and a top rate of 39.6 percent.

Read the rest at Fox News...

VN:F [1.9.6_1107]
Rate this post:
Rating: 7.6/10 (10 votes cast)
Are you ready for Taxmageddon?, 7.6 out of 10 based on 10 ratings





Don't leave yet! Add a comment below or check out these other great stories:

Leave a Comment





Fresh Ink Archives

  • October 2014
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • Reference Pages

  • About
  • Network-wide options by YD - Freelance Wordpress Developer