Discussion in 'Politics' started by Vel, Oct 7, 2012.
What Happens on Taxmageddon? - ABC News
f Bush Tax Cuts End, It Will Cost. A Lot
By Jeff Cox | CNBC – Wed, Aug 15, 2012 2:12 PM EDT
Americans would shell out as much as $5,700 more a year if the Bush tax cuts are allowed to expire at the end of 2012, according to a new analysis that highlights the perils and political consequences of the nation's fiscal cliff.
Connecticut residents would get rocked the worst, with an additional cost of $5,783 a year while New Yorkers would get hit $5,542 on average, the study from the nonpartisan Tax Foundation states.
Mississippi residents get the least impact, at $1,310 on average, but 29 of the 50 states will see taxpayers get hit at least $2,000.
Find out where your state ranks here.
"It's pretty dramatic...This is the biggest tax increase that would happen since World War II," said Will McBride, chief economist at the Washington, D.C.-based Tax Foundation. "I can't think of anyone who's really seriously thinking we should go through this. It would almost certainly result in another recession."
If Bush Tax Cuts End, It Will Cost. A Lot - Yahoo! Finance
Can you say DEPRESSION, but Maobama is more concerned with screwing success that he'll gamble with the rest of our futures. But if the house blinks on this issue, they will pay with their jobs. Hopefully they won't have to deal with our Chevez wanna be after Jan.
Separate names with a comma.