‘Taxmageddon’: $500 Billion Tax Increase Approaching
A wave of tax hikes will hit American taxpayers early next year.
Now that Obamacare has passed its Supreme Court challenge, the path is now clear for 20 new related taxes to go into effect. Over the next 10 years, these new taxes will result in an additional tax burden of $500 billion. These hikes, combined with several other upcoming tax hikes, are collectively referred to as “Taxmageddon” and will begin to hit American taxpayers in January of 2013. According to a report in Business Week, the Congressional Budget Office fears the hikes along with planned spending cuts could send the economy back into recession. “It would also result in 83 percent of U.S. households facing an average $3,701 in tax increases, according to the Tax Policy Center,” Business Week reported. Whether or not Congress and …
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Mr. B
2:26 pm on Monday, December 31, 2012
Don't be so naive Brian. Read the bill. There are tons of tax increases in the bill, many that have nothing to do with healthcare. I listed many of them here on a previous thread. more ›