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 ARE YOU READY FOR THE 2011 TAX TSUNAMI?

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Abracadabra
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PostSubject: ARE YOU READY FOR THE 2011 TAX TSUNAMI?   Wed 07 Jul 2010, 9:39 am

They will hit families and small businesses in three great waves on January 1, 2011."The first great wave will be: Expiration of 2001 and 2003 Tax Relief. The second great wave will be: Obamacare, and the third great wave will be: The Alternative Minimum Tax and Employer Tax Hikes.

THE FIRST GREAT WAVE!...........
Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family.
The return of the Death Tax.
Higher tax rates on savers and investors.


THE SECOND GREAT WAVE!

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
The “Medicine Cabinet Tax”
The “Special Needs Kids Tax”
The HSA Withdrawal Tax Hike.


THE THIRD GREAT WAVE!


The Alternative Minimum Tax and Employer Tax Hikes.
The AMT will ensnare over 28 million families, up from 4 million last year.
Small business expensing will be slashed and 50% expensing will disappear.
Taxes will be raised on all types of businesses. The biggest is the loss of the “research and experimentation tax credit. There are many more!
Tax Benefits for Education and Teaching Reduced.
Charitable Contributions from IRAs no longer allowed.


With the US economy literally teetering on the edge of collapse - what do you suppose will happen when this shake down of American citizens begins next year and they find they must face the fact that what many conservative commentators told them was going to happen has happened, and, too, they find themselves facing financial ruin. Desperation time will certainly be upon us.

America, we are in dangerous times. Desperate people are completely unpredictable. There is yet a short time to prepare for the coming anarchy in America.

First, we must get to the polls, in droves; this coming November and try to break the grasp the socialist/democrats have on our national and state governments. Even if we are successful -- we can still only hope to blunt the effects of the on rushing tsunami of governmental demands for your money to fuel an ever growing, entirely too powerful, central government that is sucking the life out of America.




http://www.atr.org/sixmonths.html?content=5171



Hope and change voters....do not forget to after you enjoy a  with obama Kool-Aid....sweetened with NutraHope!

Many people (that I know) are alive only because it’s illegal to shoot them.

Ronald Reagen said it best.......The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.

"You can ignore reality, but not the consequences of ignoring reality." Ayn Rand

The truly educated never graduate !

When the Going Gets Tough, the Tough Get Going. The Smart Left a Long Time Ago.

I have always said I don't care what you do or with whom you do it, but don't demand that I think that it is normal or that it is OK!!!!

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ARE YOU READY FOR THE 2011 TAX TSUNAMI?

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