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Taxmageddon – What it is and what it means for YOU

From the Heritage Foundation

Taxmageddon and its impact

A tsunami of tax hikes is set to hit the American people in 2013 if Congress fails to act. Here are some snapshots of how Taxmageddon affects the country, drawn from the research of The Heritage Foundation’s Center for Data
Analysis (CDA).

■ The Nation: $494 billion total tax
increase on all Americans
■ Families: $4,138 average tax
increase
■ Baby Boomers: $4,223 average tax
increase
■ Millennials: $1,099 average tax
increase
■ Low-Income Workers: $1,207 average tax increase
■ Retirees: $857 average increase
■ States: $1,929 (WV) to $5,161 (CT)
range in average tax hikes per
return
■ Congressional Districts: $1,236
(NY-16) to $13,951 (NY-14) range
in average tax hikes per return.

These tax increases, which will hit every taxpayer in the country, will take effect on January 1, 2013 because the Senate hasn’t bothered to re-authorize the Bush Tax Cuts.  To find out how badly they will affect you, please read the research done by the Heritage Foundation here:  http://thf_media.s3.amazonaws.com/2012/pdf/sr-110.pdf.

These increase will have a negative effect on an economy that’s already hurting thanks to failed Democrat policies and they simply don’t care that you’ll pay even more than you do now.  Americans can hardly afford more job killing government idiocy like this.