If Bush Tax Cuts Expire, How Much Do My Taxes Go Up?

[BLAZER PROPHET]

I realize they may be extended, but I was talking to some coworkers and we were wondering how much my taxes go up, as in how much will my paycheck shrink.

Now, for me, being married I lose $2,000 worth of standard deduction and then the rate increases 13%, so overall about $2,975, or roughly $250 per month. Hmmm....., we do not save that much so something will have to go.

Well anyway, I wonder how all this shakes out.

http://www.jdsupra.com/legalnews/how-will-the-expiration-of-the-bush-tax-58195/

http://www.theblaze.com/stories/if-the-bush-tax-cuts-expire-how-much-more-would-you-have-to-pay/

 

[maxiep]

The expiration of the Bush tax cuts are just the tip of the iceberg.

 

[PapaG]

The expiration of the Bush tax cuts are just the tip of the iceberg.

Capital gains are the next increase.

I fully support it.

I am pro-tax at this point. Any tax Obama wants, I say give it to him.

 

[BLAZER PROPHET]

The expiration of the Bush tax cuts are just the tip of the iceberg.

How so?

 

[maxiep]

How so?

Capital gains, Obamacare, loopholes closing, etc., etc.

 

[TradeNurkicNow]

I like the new PapaG, even if it just a thinly veiled attempt at being facetious.

 

[PapaG]

Why does the word "Obama" hotlink on this board now to something called surf canyon?

 

[PapaG]

I like the new PapaG, even if it just a thinly veiled attempt at being facetious.

I am not being facetious. I am all-in for the Obama agenda, if the Gop tries to fight it, it will end up even worse electorally for them in 2014.

 

[Denny Crane]

No words on S2 hotline anywhere, unless the poster puts a link in their post.

 

[Denny Crane]

Since we call the cuts "the Bush tax cuts," can we call what Obama wants "the Obama tax hikes?" Seems appropriate.

 

[PapaG]

My post #3 shows a hotlink to Surf Canyon on the word "Obama". I didn't post any link in that post.

What gives? I am on Chrome.

 

[Denny Crane]

Obama in post #3 is not a link to anywhere for me.

Obama put a virus or spyware on your computer.

 

[TradeNurkicNow]

pretty thinly veiled, yeah

 

[TradeNurkicNow]

use adBlock

 

[BrianFromWA]

no link for me, and I'm using Chrome.

 

[PapaG]

no link for me, and I'm using Chrome.

Very odd. Happened in another thread to me a few minutes ago.

Hey Barry, I want to enact your agenda! Go USA!

 

[blazerboy30]

Capital gains, Obamacare, loopholes closing, etc., etc.

Don't forget the new, additional tax on rental income.

 

[maxiep]

Since we call the cuts "the Bush tax cuts," can we call what Obama wants "the Obama tax hikes?" Seems appropriate.

Please. They're the "Obama Fairness Investments".

 

[PapaG]

Please. They're the "Obama Fairness Investments".

The "Obama Pay Your Fair Share Donations"

The media is all upset because King Barry didn't answer questions in his first statement to the press after the election. Even Bush took questions after his re-election.

Hey dummies in the media ... Barry doesn't need you anymore.

 

[BLAZER PROPHET]

I have to say, with the possibility of the Bush Tax Cuts expiring, ObamaCare Tax Program, and other new taxes, it is nice to know that Congress is divided. We'd have to make drastic changes if I had to pay all those tax increases.

 

[PapaG]

I have to say, with the possibility of the Bush Tax Cuts expiring, ObamaCare Tax Program, and other new taxes, it is nice to know that Congress is divided. We'd have to make drastic changes if I had to pay all those tax increases.

If I have my way, the GOP will stand aside and let Obama get his way. Let's hasten the coming of the impending collapse.

 

[jlprk]

Bush gave massive tax cuts to the rich and fought 2 wars, all on a credit card granted by your enemy China.

You expected Obama to bail you out like Clinton did while you kicked him around for 8 years.

Your chickens have come home to roost. Now, you repay your debt. You fund Bush's mistakes.

 

[Denny Crane]

And our kids, their kids, and their kids' kids will be paying for 8 years of Obama.

 

[BlazerCaravan]

And our kids, their kids, and their kids' kids will be paying for 8 years of Obama and 8 years of Bush (which outnumber Obama's first 4 years by 6 trillion right now).

FTFY. Maybe Chelsea Clinton will force a balanced budget agreement in her first term and our kids' kids can have a nice surplus again.

 

[Denny Crane]

Obama ran up more debt in 4 years than W in 8.

 

[PapaG]

Obama ran up more debt in 4 years than W in 8.

That was Dubya's fault, though.

 

[jlprk]

It was, and 300 electoral votes say so.

 

[jlprk]

Turns out Obama won Florida, the crooked state which elected Bush against the will of the majority of Americans. Final electoral vote: 332-206.

The wealthy tried hard but could not buy this election.

http://www.latimes.com/news/politic...ires-wasted-millions-20121108,0,5042382.story

 

[mook]

Technically, they should properly be described as "The Bush Tax Cut Sunset," since the cuts were specifically designed to sunset (in order to hide the disastrous hole they put in long-term budgets).

Obama is merely following the plan set forth by Bush, at least on upper incomes.

 

[BLAZER PROPHET]

Turns out Obama won Florida, the crooked state which elected Bush against the will of the majority of Americans. Final electoral vote: 332-206.

The wealthy tried hard but could not buy this election.

http://www.latimes.com/news/politic...ires-wasted-millions-20121108,0,5042382.story

Odd. The US Spureme Court disagrees with you. Also, the State of Florida is reporting up to 180,000 suspect votes- of which 80% are for democrats. Kinda makes one think.