7/03/2010

The Coming Obama Tax Increases - Part 2

Warning: "In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011."
Higher taxes on marriage and family

The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.
So much for that pledge. As I have said before America...you get what you vote for, and this can certainly be classified as "change".

More to follow....

Source: Americans for Tax Reform