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3 Bumps

Well crap... what does this mean for us?

One quarter of the deficit reduction to be achieved through tax increases, with the rest to come mostly from spending cuts--a split that the president's liberal base may see as still too heavily tilted toward spending cuts

We only make freaking 30,000 a year. How much more are they going to take? We struggle as it is.

Answer Question

Asked by Anonymous at 4:18 PM on Apr. 13, 2011 in Politics & Current Events

Answers (13)
  • I have not a clue hun.

    Answer by jujubean1979200 at 4:22 PM on Apr. 13, 2011

  • In order for it to be paid down each american has to pay around $43k each, so given we make right at that a year I dont know how they plan to actually get it from us. If I had to take a guess theyll raise taxes again on gas, cigarettes, sodas, and any junky food out there to start with.

    Answer by gemgem at 4:23 PM on Apr. 13, 2011

  • It's unlikely that you'll experience any increase in payroll taxes.

    Some of those tax hikes include not extending the tax cut for the rich and closing loopholes.

    Answer by UpSheRises at 4:29 PM on Apr. 13, 2011

  • I'll believe it when it's actually done-

    Answer by Sisteract at 4:37 PM on Apr. 13, 2011

  • If you're only making 30,000 I doubt your taxes will go up much. R E L A X!

    Answer by Rnurse at 4:52 PM on Apr. 13, 2011

  • Obama will not get to raise any taxes in this budget so don't worry.

    Answer by itsmesteph11 at 5:03 PM on Apr. 13, 2011

  • Okay. I read this article and my first thought is how re we going to survive tf they take more! I know I seem to have panicked but trust me, I have good reason!

    Comment by Anonymous (original poster) at 5:05 PM on Apr. 13, 2011

  • # An end to the Bush tax cuts for the 2 percent of Americans making $250,000 or more
    # Tax reform aimed at closing loopholes that favor the rich, allowing for a lowering of overall rates, as recommended by the Bowles-Simpson deficit reduction commission

    This ^ is a good thing IMO, IF they actually do it. Although, I also don't care if they redefine what 'wealthy' is if small businesses are concerned about the $250,000 amount (just letting the tax cuts expire and closing loopholes on $500,000+ or even $1 M+ earnings would help a lot). Hopefully they don't raise taxes on lower income and lower middle class families families who struggle to make ends me as it is.

    Answer by pam19 at 5:14 PM on Apr. 13, 2011

  • You make 30k your taxes will not go up. They are only going after the rich who already pay more than their fair share of taxes. We will pay when ours does go up but will give less to charity sucks but I am not changing a thing when it comes to our finances. At this point anything we give over the insane amount we pay now is charity for the Gov wonder if we can write that

    Answer by Anonymous at 5:33 PM on Apr. 13, 2011

  • # An end to the Bush tax cuts for the 2 percent of Americans making $250,000 or more

    That's all the mom-and pops.

    That 250K is part of their total sales/revenue etc.,., not the income they take into their houses, that can be far less.

    More taxes?

    No new jobs.

    Now that's winning!!!!!!!!!!!!


    Answer by mustbeGRACE at 6:32 PM on Apr. 13, 2011

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