Originally Posted by DateDoc

With the Bush Era tax cuts about to expire the 6 existing tax rates of 10%, 15%, 25%, 28%, 33% and 35% will be replaced by five new brackets with the higher rates of 15%, 28%, 31%, 36% and 39.6%. That means those paying 10% will now see a 50% hike in their tax bill as it rises from 10% to 15%.

A lot of other people are about to be fucked unless Congress votes to extend these tax cuts.

http://finance.yahoo.com/taxes/artic...dvice_strategy