A clear explanation of why your taxes are a lock to go higher in the next few years

The Daily Crux ^

[sdw2009]

We know reading about deficits and taxes is a sure cure for insomnia, but make sure to read this quick opinion piece on why taxes are going higher.

[avacado]

When the 2003 tax cuts expire at the end of 2010, the federal income tax rates go back up to the higher rates of the year 2000. Low income, middle income, and high income will all have their federal income taxes raised.

[K-oneTexas]

"In a March 27 forecast, Goldman Sachs estimated average annual deficits of $940 billion through 2019. If this proves true, deficits would remain above 4% of GDP through the next decade and the national debt would reach a whopping 83% of GDP, a level not seen since World War II. ... Mr. Obama and his economic advisers understand this deficit outlook and undoubtedly view it as unsustainable."

Unless of course the maximum federal income tax reaches all time highs again too, ranging from 70%-90% (90%as in the 50's -- or 1937 thru 1980 saw these rate). [see http://www.ntu.org/main/page.php?PageID=19]

[avacado]

This Marxism has to implode. The sooner the better.