How Will The Expiring Bush Tax Cuts Affect You? - Forbes.com Obama supports letting these tax cuts expire. The poorest americans, all americans making under 32,000/year, are going to receive a 5% increase in their federal tax responsibilities. my bracket, the next one up, will receive a 3% tax hike. The richest people will get a 4.6% tax hike, or a slightly smaller tax hike then the poorest americans. How do we justify this in relation to the rhetoric of many who said the bush tax cuts were being only for the rich?