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Has anyone else recv'd the Heritage Foundations Tax increase Impact survey?

They have some scary numbers in here. I need to go find out how accurate they are it states the following if the 2001 and 2003 tax cuts expire the following is what we are looking at:
-Wall street Journal says as a result of the expiration we will see "the biggest tax increase in our Nation's history"
-Overall tax hike will be about 2.4 trillion
-42 million families with children will see an average tax hike of $2,084
-estimates for now are that Americans pay some 35-40 % of their earnings each year in federal taxes
-with the expiration of the cuts an estimated 17 million American Seniors will be hit with an average tax increase of $2,034.
-if these cuts are not made perinanent, 26 millon small business owners will face an average tax increase of $3,637
-The reinsatement of the Death tax would increase taxes by an estimated $91 billion
(cont)

 
mamakirs

Asked by mamakirs at 1:47 PM on Aug. 29, 2009 in Politics & Current Events

Level 14 (1,495 Credits)
This question is closed.
Answers (18)
  • Lol, he isn't going to raise taxes on the middle class, just let the bush tax cuts expire! The middle class won't see "new" taxes, just "old" taxes. Ha! Can't wait to see what the economy looks like when this gets done. I hope he realizes people can't spend money they don't have.

    And don't give me any crap about how I'm always complaining about the deficit, either. They could stop funding freakIng marshmouse studies and Heaven knows what else.
    lovinangels

    Answer by lovinangels at 2:52 PM on Aug. 29, 2009

  • by repealing the tax cuts it would reinstate the Marriage Penalty forcing married couples to pay higher taxes than single payers.

    Thoughts?
    mamakirs

    Answer by mamakirs at 1:49 PM on Aug. 29, 2009

  • Wall street Journal says as a result of the expiration we will see "the biggest tax increase in our Nation's history"

    They will go back to where they were before Bush TEMPORARILY cut them. You do realize they were never meant to be permanent? and that the shortfall in the budget was never made up??
    sweet-a-kins

    Answer by sweet-a-kins at 1:58 PM on Aug. 29, 2009

  • You do realize what letting them expire will do to this good people of this country don't you sweet?

    Along with every other tax increase we will see.
    Anonymous

    Answer by Anonymous at 2:02 PM on Aug. 29, 2009

  • You do realize what letting them expire will do to this good people of this country don't you sweet?


    PUT us right back where we were 8 years ago.....

    sweet-a-kins

    Answer by sweet-a-kins at 2:19 PM on Aug. 29, 2009

  • Not with the increases will see that haven't commenced as of yet

    We are going to sink. Maybe you aren't married or perhaps you don't own or work for a small business but I am a small business owner who is married. I am barely staying afloat as it is. I will not be able to keep my 11 employees on the payroll. That makes me sick to my stomach.
    Anonymous

    Answer by Anonymous at 2:21 PM on Aug. 29, 2009

  • ** we'll not will
    Anonymous

    Answer by Anonymous at 2:21 PM on Aug. 29, 2009

  • Not with the increases will see that haven't commenced as of yet We are going to sink. Maybe you aren't married or perhaps you don't own or work for a small business but I am a small business owner who is married. I am barely staying afloat as it is. I will not be able to keep my 11 employees on the payroll. That makes me sick to my stomach.


    I am married. and as for your small business, I wish you luck. The economy has been in the toilet for the last 7 years (maybe more) I think that has more to do with the business struggling....What taxes that haven't commenced yet are you referring too?

    sweet-a-kins

    Answer by sweet-a-kins at 2:30 PM on Aug. 29, 2009

  • It seems so messed up to me that there was ever a death tax. I mean, the person just died, talk about kicking the remaining family while they're down.
    mogencreative

    Answer by mogencreative at 2:31 PM on Aug. 29, 2009

  • I am married. and as for your small business, I wish you luck. The economy has been in the toilet for the last 7 years (maybe more) I think that has more to do with the business struggling....What taxes that haven't commenced yet are you referring too?

    Sweet , your level of education and job complexity really shows when you give answers like this. The economy is only one of the tentacles on the business octopus. My business is starting it's 4th year next month. Every year it has tripled in volume....until now. It is dropped off to double or less than double since March. I know the reason why. People are holding their breath to see what is going to happen. The businesses that buy from me are waiting and worrying. It creates a domino effect.

    It is really funny for YOU to tell anon 11:21 why HER business is struggling.

    New taxes..our state income/business taxes are going up at least 2%.
    yourspecialkid

    Answer by yourspecialkid at 3:11 PM on Aug. 29, 2009

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