This is why you don't elect liberal Democrats (impending tax increases) (unemployed, Congress)

[mike0421]

http://www.atr.org/files/files/07011...n2011taxes.pdf

This is a disgrace. When your money is confiscated to this degree, you become less free as an individual. There is absolutely no check and balance to the left wing ideology in D.C. right now. That has to change on November 2nd. Bring 5 friends to the polling place this year and vote these Democrat bastards out of congress. It's your money, fight for it. Don't let it be confiscated from you to this extent. It's at every single level, it doesn't matter what color the collar on your shirt is, blue or white. If you are already on welfare, unemployed, then I can't blame you for voting in the other direction. Anyone else should have their head examined.

[AeroGuyDC]

Thanks for posting that Mike. All of us need to read up and see what's on the horizon.

I think most American's acknowledge that tax hikes may be necessary to combat the debt/deficit; However, I don't think most American's are willing to let Barack Obama renege on his "your taxes will not go up" promise. That's the part i'm looking forward to watching. Barack Obama's Presidency, and all the flailing about that has come forth with his inexperience, has made for a great spectator sport. The climax is certainly yet to come.

[HappyTexan]

Excellent link..it lists all the expiring cuts and their ramifications.
Too many people think the cuts will only affect the rich..probably because that is what the administration keeps telling them. And in any debate over this I ask..how many rich are in the 10% bracket ? I have yet to get any reply to that question which I have posed on this forum several times when the topic of these expiring cuts come up.

Well I've been preparing and I'm hedged, invested and ready for it.
NO health account..took my gains/losses...and deferring as much pre-tax as I can so not to get hit with AMT. Made some major purchases which are ag related and expensible which will reduce my net taxable income. Also have some carryover losses to further reduce my income.

I've been hit by the AMT before (and NO I am not rich) and that sucker throws you for a punch and squeezes even more money out in taxes owed.

This is the last year to make use of any of those cuts/credits due to expire in 2011.
Plus..there's the new Obama taxes coming as well.

Folks have 6 months to get their financial houses in order to avoid the higher taxes.