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Here's a list of major federal tax changes that will occur in 2011 if the Bush tax cuts are not extended:

• Individual income tax rates go from 10%, 15%, 25%, 28%, 33%, and 35% to 15%, 28%, 31%, 36%, and 39.6%.
• Child credit falls from $1,000 per child to $500 per child.
• Capital gains tax rates would revert back to 10% and 20% (depending on AGI), while they are currently at 5% and 15%.
• Dividends would once again be taxed at the ordinary income rates (see above), while today they are currently at 5% and 15%.
• After being fully phased out for tax year 2010, the estate tax would be fully reinstated with a top rate of 60 percent and a $1 million exemption.

Withholding tables will reflect the new rates. People will see the impact in their first paycheck in January. Some taxpayers will start howling on 7 January.

These folks have their principles and they are seated from districts in which they have no chance of losing, as long as they stand on those left wing positions.

This is no lose for them.

If there is no resolution that gets taxes held at current levels, rather than raised, it will take 1-1.5% off GDP next year. That will destroy any chance of Obama winning re-election.

He knows it.

This failure to get a WH position through Congress is due to Emmanuel’s departure.

By allowing the 2001 tax cuts to retire, Congress would be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.
Do the math :
Raising the 10% bracket to 15% represents what percentage of increase? Hint: The correct answer is NOT 5%.
Raising the 20% bracket to 25% represents what percentage of increase? Hint: The correct answer, again, is NOT 5%.
Finally, raising the 35% bracket to 39% represents what percentage of increase: Hint: The correct answer is NOT 4%.
Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?
Extra , extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?
To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.
From 20% to 25%...that’s a full-blown 25% increase in taxes.
To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.
So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money...but the percentage compared to what they already make is lower.

(posted by a freeper whose name I can’t recall-from about 6 months ago)

• Individual income tax rates go from 10%, 15%, 25%, 28%, 33%, and 35% to 15%, 28%, 31%, 36%, and 39.6%.

• Child credit falls from $1,000 per child to $500 per child.

Hey, based on this, I'm not so sure I'm in favor of continuing the current rates.

• Child credit falls from $1,000 per child to $500 per child.

Am I the only one who questions misleading labels like this one?
What is "credit?"
How many "children" has this covered in the last fiscal year?
What percentage of families which claim the "credit" actually pay income taxes?
Are some "children" more equal than others? Can any family with a child claim it?

Or is this another magic semantic trick to hide another massive entitlement welfare program behind a fraudulent name? Remember "medicaid?"