Thursday, July 22, 2010

The Tax Tsunami On The Horizon -

The Tax Tsunami On The Horizon -

That's right! On top of all the local tax levies, local income tax increases, the retroactive state income tax increase, fees, ..., here comes the federal income tax increases:

"The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%."

It's just foolish to raise taxes right now, foolish.

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