Low income families in the USA will see a 50% tax hike!
 

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

I thought Obama said that would not happen.

Well, they could still vote to extend the cuts but who knows what they will do.

Obama said a lot of things. Hopefully people start seeing through him.

Aren't we something like $12 trillion in debt now? Raise the fucking taxes already.

We can all see how well that has worked for California. :error

Hahaha and you think that's going to stop the government from over spending?

The more money they can tax, the more they'll spend it will NEVER end... if they can't tax enough they'll just print more money... which really is the same as taxing people except it's hidden... It devalues everyone's money in the global market and shifts cash into the government's hands... the vast majority of the American populous doesn't really understand this concept... and the fact that the Audit the Fed bill didn't pass is disgusting.

I'm sorry but he who prints the money should be transparent... not only that they should work FOR the people. Not a private entity who's goal is to make money and even our own government can't look into their dealings... we can't even get an audit ability let alone transparency...

They'll just take a page from corporate 'merica and dodge the taxes.

No, it won't stop them from overspending... but they'll have more to spend. And 'more to spend' is the way we operate. So I say do both. Raise taxes and print more money. Then spend it all, and ask for more. Keep doing this until we're effectively taxing 95% of all income and we're $40 trillion underwater.

Maybe then this shit will be retarded enough for someone to say "enough."

Otherwise we'll just continue to be owned by China and The Fed and it will never change. Drastic changes are detrimental to that plan. They don't like extreme, because it causes people to think. They want to own you slowly, a nickel at a time, because then people just grumble about it and carry on.

Fact: It will never change or be 'fixed' until we've hit rock bottom and there is no more money to be squeezed. So tax the fuck out of everyone. Now. Let's do this and get it over with.

LOL, thats funny!

obama fucked poor people, burn in hell obama if tax jumps again

BWAHAHHAHAHAH great post and I definitely see the logic here pushing to the Armageddon of taxation in order to rebuild :P

More change we can believe in.

looks like most gfyers will be screwed... :2 cents:

And they'll still be taxed less than other people around the world, yet still bitch and moan about it like they are so hard done by.

Cut the fucking spending already....

I don't really think this is going to effect many of poor that much. If you are a family of 4 and make around 50K a year you are probably not paying any federal taxes anyway. So in increase isn't likely to effect you since there are enough credits and write-offs that you can lower your taxable income down to zero.

Still, maybe the government should consider actually spending less and spending more wisely as opposed to increasing taxes.

You're right, but if you want to speed up the collapse it would be better to cut taxes even more AND greatly increase government spending :)