My new tax liability

[bbinacan]

Will be an additional $1200 at least, if the current rates go up. And now AAA is suggesting a new 10 to 40 cent/gallon tax is in the offing? This is killing me. I'm very likely to have no job come 1/11. What happened to no tax increases below 250k? I'm tired of this shit! I hate being lied to.:mad:

[Pirate Smile]

1. What the hell are you talking about?

You sound like you are getting played.

[JuniperLea]

2. Based on what?

Can you elaborate?

[bbinacan]

3. The new tax rates that

go into effect 1/11. Barring congressional action.

[JuniperLea]

4. Got link?

Because all I've read about this shows this will not touch me at all. If you make over $250k, then it will... if you do make that much, lucky you!! Or, well done for working that hard and climbing that ladder!

[Curmudgeoness]

8. That isn't true. In the event that no extention is passed,

all taxes will revert to pre-cut levels.

[bbinacan]

11. Meaning my taxes are going up.

What part of me having to pay at least $1200 more per year?

[Curmudgeoness]

12. If if if if if. Your taxes could go up, but that is contingent on

no legislation being passed. I have no doubt that there will be legislation to extend the cuts, and in that case, you have no worries. Just wait before you panic.

[bbinacan]

9. I make well below 250k. n/t

[Pirate Smile]

7. The tax rates that Republicans are holding hostage unless the rich get their

tax cuts? If the millionaires don't get to keep their tax cuts then the middle class don't get theirs according to the Republicans? That is now Obama raising your taxes?


They will make some kind of a deal after the election.

[Curmudgeoness]

5. Calm down. Nothing has been settled yet, and it is probable

that if you are below $250,000, you will have an extension of the tax cuts. Republicans want to extend all cuts, Democrats want to extend cuts to people under $250,000. The only situation where you will be paying more is if there is total gridlock and neither can pass legislation.

But even if there is no extension of the cuts, just be grateful for the years where your taxes were lower. And although I do worry about anyone who may lose a job, if you were to lose your job in January, you have no worry about income taxes.

Sorry, had to say that. My point is that there is nothing decided. Don't worry about every problem that may (or may not) arise. Save the worry for what does happen.

[Motown_Johnny]

6. there will be extensions for people making less than 250K

and gas prices tend to adjust themselves due to demand regardless of the taxes included in the price

stop freaking out

[bbinacan]

10. I'm not holing my breathe. n/t