Hello fellow citizens,
If you need a good reason not to return a liberal/socialist president and his Senate to power, here is a dandy. More of your hard earned money will go to the socialist government, which will inefficiently administer programs that have extravagantly paid managers to decide what crumb of return you will get. Under Obamacare, that will include which type of medical treatment the Board decides is best for you.
Sunday will mark the start of the 100-day countdown to “Taxmageddon” — the date 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, 2013. In 2001 and 2003, the GOP Congress enacted several tax cuts for small business owners, families and investors. The following tax hikes will occur on January 1, 2013:
Personal income tax rates will rise on January 1, 2013. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which the majority of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
• The 10 percent bracket rises to a new and expanded 15 percent
• The 25 percent bracket rises to 28 percent
• The 28 percent bracket rises to 31 percent
• The 33 percent bracket rises to 36 percent
• The 35 percent bracket rises to 39.6 percent
Higher taxes on marriage and family are also coming on January 1, 2013. The child tax credit will be cut in half from $1,000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. There are other tax increases, as well. There are 20 new or higher taxes in Obamacare. Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. Tax Benefits for Education and Teaching will be reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses.
E mail me and I can send you a more complete list: email@example.com. Please help restore our country’s freedoms and not further entanglements under an oppressive government. Vote for Mitt Romney, Josh Mandel and Bill Johnson.