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Title: List of 2011 Tax Increases and Changes
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Published: Aug 11, 2010
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Post Date: 2010-08-11 11:32:47 by christine
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2011 Taxes In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011: Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below: - The 10% bracket rises to an expanded 15% - The 25% bracket rises to 28% - The 28% bracket rises to 31% - The 33% bracket rises to 36% - The 35% bracket rises to 39.6% Higher taxes on marriage and family. The "marriage penalty" (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut. The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones. Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013. Second Wave: Obamacare There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include: The "Medicine Cabinet Tax" Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). The "Special Needs Kids Tax" This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Third Wave: The Alternative Minimum Tax and Employer Tax Hikes When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired. The major items include: The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers. Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be "depreciated." Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs. Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Covered Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families. Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there. PDF Version Read more: www.atr.org/six-months-un...es-a5171#%23ixzz0sY8waPq1 Now your insurance is INCOME on your W2's...... One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished! Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get. You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many, it also puts you into a new higher bracket so it's even worse. This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases. Not believing this??? Here is a research of the summaries..... On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income." Joan Pryde is the senior tax editor for the Kiplinger letters. Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what is above.
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#1. To: christine (#0)
Did someone wake up on the Doomy & Gloomy side of the bed this morning? :P I know I sure did.
Dear God.
We'll outsource to the chinks. Yeah, they're not as creative, but there's a lot of them. The child tax credit will be cut in half from $1000 to $500 per child. That's huge. AND highly regressive.
Higher rates of SGA but greater chances of survival within birth weight-for-gestation groups and lower energy expenditure during puberty in African American than non-Hispanic white girls support the possibility that African American girls are born with a lower energy expenditure than non-Hispanic white girls.
I saw an article a couple weeks ago that said O'boingo & his jew-crew is going to impose a 1% bank transaction tax as soon as the make-believe election is over in November. Any transaction you have with a bank, making a deposit, withdrawl, writing a check, transferring funds from savings to checking, etc., is going to cost you 1%. To start.
Dear God, Please kill all the politicians. I promise I will be good all year. P.S. Please get me a pony and a plastic raygun for Christmas. Bobby
"A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools." - Douglas Adams
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many, it also puts you into a new higher bracket so it's even worse. Not so. But the REPORTING of that on your W-2 is probably the nose in the door.
Higher rates of SGA but greater chances of survival within birth weight-for-gestation groups and lower energy expenditure during puberty in African American than non-Hispanic white girls support the possibility that African American girls are born with a lower energy expenditure than non-Hispanic white girls.
That's o.k. Blacks don't use banks.
Higher rates of SGA but greater chances of survival within birth weight-for-gestation groups and lower energy expenditure during puberty in African American than non-Hispanic white girls support the possibility that African American girls are born with a lower energy expenditure than non-Hispanic white girls.
These tax increases are not going to hurt the rich in the least. Oh sure, it will piss off the rich, but when all is said and done and taxes are paid, the rich are still going to be rich. Who this is going to hurt and hurt pretty bad is the middle class. But hey, as long as comrade robin and those like her get "free" health care then it's all worth it right?
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 Nothing in the State, everything outside the State, everything against the State - Jan Lester, Escape From Leviathan "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat Good order results spontaneously when things are let alone. - Zhuangzi
It will be interesting to see the reaction of the American sheeple when instead of receiving their annual tax refund they receive a tax bill.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 Nothing in the State, everything outside the State, everything against the State - Jan Lester, Escape From Leviathan "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat Good order results spontaneously when things are let alone. - Zhuangzi
Whatever the hell it takes them to wake out of the matrix. www.freedomdomain.com/Main/matrix_zion.html Page from DUNN & BRADSTREET www.4shared.com/photo/-3x...f_Representatives_-_.html edit...forgot one: "...as long as there..remain active enemies of the Christian church, we may hope to become Master of the World...the future Jewish King will never reign in the world before Christianity is overthrown - B'nai B'rith speech http://www.biblebelievers.org.au/luther.htm / http://bible.cc/psalms/83-4.htm
The goal is to destroy us, destroy the family, destroy incentive to be creative or entrepreneurial. I strongly urge people to consider perhaps dealing in cash or alternative currency. You can't beat these people in a court of law, don't even try. Just start creating our own economy. I don't know how right now, but we have to get on this now, while we still can afford electricity to run our computers and gas for our cars. They're out to destroy our last remnants of American values, culture and independence.
"The more artificial taboos and restrictions there are in the world, the more the people are impoverished.... The more that laws and regulations are given prominence, the more thieves and robbers there will be." - Lao Tzu, 6th century BC
Any transaction you have with a bank, making a deposit, withdrawl, writing a check, transferring funds from savings to checking, etc., is going to cost you 1%. That's o.k. Blacks don't use banks. Me either ... I and the blacks see eye to eye on the banks and bankers. FUCK THE BANKS they're killing America.
"It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own. All power it has is what society gives it, plus what it confiscates from time to time on one pretext or another; there is no other source from which State power can be drawn.” Albert Jay Nock
Got a point there.
Higher rates of SGA but greater chances of survival within birth weight-for-gestation groups and lower energy expenditure during puberty in African American than non-Hispanic white girls support the possibility that African American girls are born with a lower energy expenditure than non-Hispanic white girls.
Any transaction you have with a bank, making a deposit, withdrawl, writing a check, transferring funds from savings to checking, etc., is going to cost you 1%. To start. I really hope that this is bogus information. I really, really, do. Who knows what those effs will try to do?
I've read that the federal government's total spending is scheduled to be about $3 trillion in 1 year and they're going to finance it by borrowing $2 trillion. This $2 trillion of borrowing in 1 year is the 4'th year of borrowing at a higher level. We had 1 year of zero deficit in Clinton's last year. Under Bush it was built up to about 3-4 years in a row of a $400 billion deficit. In the last year of Bush it was a $1.5 trillion deficit and has been high at that level or higher ever since. The tax base is declining and we're collecting less revenue as a result. but nobody's cutting spending. and we're not doing anything to protect our economy from going down. We've got no real plans to even attempt a recovery.
Revelation 6:6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and [see] thou hurt not the oil and the wine.
Does anyone know why there's this huge push to ram new taxes down our throats? I can lay it out pretty succinctly. 1. We the people allowed our government to grow out of control, and unchecked for the last 40 years. 2. We the people allowed ourselves to be led by the lowest common denominator. We deliberately chose leaders who had feet of clay, so we could feel good about our own shortcomings. 3. We the people got involved in a war that is unending, because of a lie that our "Leaders" conned us into. 4. We the people never demanded the truth about how and why 9-11 was allowed to happen. 5. When our economy started to flag, and when we started to watch our jobs get shipped overseas, we the people did not raise our voices high enough, loud enough, or abrasive enough to those who should have been made to listen. By our silence, we allowed ourselves to be relegated to subsufficient income jobs, and saw our manufacturing taken away from us, under the guise of global welfare. 6. Our government's overwhelming need to spend money at a rate triple the ability to take it in, not to mention its desire to be all things to all people, was not put in check. We should have never allowed our government to get into the various businesses it's involved in that have destroyed large portions of our economy by its inherently destructive tax structure. 7. We borrowed nearly a trillion dollars from China, and they expect that money to be repaid, and repaid QUICKLY. They are having their own economic troubles, and they're going to be looking to cash out of Banco De Amerika. We are, as a nation completely fucked.
It is better to be hated for what you are, than loved for what you are not. - Tommy The Mad Artist.
We can stop this any damn time we want to.
I don't think it is. The effective interest rate on savings accounts for all intents & purposes is zero (JP Morgan Chase currently pays you about $3.00/yr on a $15,000 deposit). Their next step is to charge you to sit on your money, and the "transaction tax" is a really clever way to do it. Hell, if the state can get 7% every time I buy something, there's no reason the gang banksters shouldn't be allowed to clip you for a mere 1% every time they have to deal with you. Those billion dollar bonuses don't pay themselves Loddy.
Isaiah 10:24Therefore thus saith the Lord GOD of hosts, O my people that dwellest in Zion, be not afraid of the Assyrian: he shall smite thee with a rod, and shall lift up his staff against thee, after the manner of Egypt. [see bible.cc/exodus/5-14.htm ]. 25For yet a very little while, and the indignation shall cease, and mine anger in their destruction. 26And the LORD of hosts shall stir up a scourge for him according to the slaughter of Midian at the rock of Oreb: and as his rod was upon the sea, so shall he lift it up after the manner of Egypt. 27And it shall come to pass in that day, that his burden shall be taken away from off thy shoulder, and his yoke from off thy neck, and the yoke shall be destroyed because of the anointing. http://kingjbible.com/isaiah/10.htm Revelation 18:4 And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues. bible.cc/revelation/18-4.htm Exodus 19:3And Moses went up unto God, and the LORD called unto him out of the mountain, saying, Thus shalt thou say to the house of Jacob, and tell the children of Israel; 4Ye have seen what I did unto the Egyptians, and how I bare you on eagles' wings, and brought you unto myself. [ see bible.cc/john/14-3.htm / http://kingjbible.com/ezekiel/17.htm [EDIT: Ezekiel 17:1-6 ...Remember the church is the House of Israel now. See Ezekiel 34:11-13/2, Jesus: "I am not sent but for the Lost Sheep of the House of Israel", Samuel 7:10...hurrying! sorry!]/ http://www.wnd.com/news/article.asp?ARTICLE_ID=55421 ] http://kingjbible.com/exodus/19.htm 1 Peter 2:9 But you are a chosen generation, a royal priesthood, an holy nation, a peculiar people; that you should show forth the praises of him who has called you out of darkness into his marvelous light; bible.cc/1_peter/2-9.htm I wonder if MOSES was this man's real name, because it is very providential: Executive Order Of April 5,1933 "....In this essay we will examine the evidence that the government owes each American a huge debt and that this debt can be used as an alternative to using Federal Reserve Notes (FRN) to discharge our debts. In order to best understand the material in this essay, you should have already read the articles on “U. S. Bankruptcy,” “Federal Reserve,” and “Meet Your Straw Man”....." http://www.truthsetsusfree.com/TheExemption.pdf Using Your Exemption by Moses G. Washington. Disclaimer ..... You can use your exemption to discharge the debts of others. ...... Truth Sets Us Free ... "....House Joint Resolution 192, 73d Congress, Sess. I, Ch. 48, June 5, 1933 (Public Law No. 10 ) Note: "payment of debt" is now against Congressional and "public policy" and henceforth, "Every obligation . . . Shall be discharged." As a result of HJR 192, and from that day forward (June 5, 1933), no one in this nation has been able to lawfully pay a debt or lawfully own anything. The only thing one can do, is tender in transfer of debts, with the debt being perpetual. The suspension of the gold standard, and prohibition against paying debts, removed the substance for our common law to operate on, and created a void as far as the law is concerned. This substance was replaced with a "PUBLIC NATIONAL CREDIT SYSTEM" where **** debt is "LEGAL TENDER" money. HJR 192 was implemented immediately. The day after President Roosevelt signed the resolution, the treasury offered the public new government securities, minus the traditional "payable in gold" clause. 192 states that one cannot demand a certain form of currency that they want to receive if it is dollar for dollar. If you review the Modern Money Mechanics article you will discover that all currency is your credit! The Federal Reserve calls it "monetized debt.".." http://www.truthsetsusfree.com/HJR192.htm =============================== Are You a Sovereign Yet? The Benefits Of Being A Sovereign There is much to be gained from becoming what you were born to be “A Sovereign” [1 Peter 2:9, Revelation 5:9-10] Lets see what the advantages are. The first thing a Sovereign becomes is immune to law, I.E. statutory, civil and vehicle codes. You no longer are subject to those laws they just do not apply to you. You gain the ability to discharge anything in the legal arena of commerce using the laws of that system against the perpetrators that are currently using those laws against you for their gain. [Micah 4:13] From the DVD course (after purchase) you will learn hundreds of tricks of the legal system that can free you from most anything. Included but not limited to this are: Becoming the Sovereign Citizen you were born to be, which is the master over the legal system rather than the servant you are now as a statutory citizen. (Note the Capitalization of the letter C) You were born a Sovereign but it only lasted a few hours or maybe a day at the most before you were illegally brought into the system by contract known as a birth certificate. That certificate made you a servant to the world we know as the UNITED STATES and the so called American way. Discharging your debts by bonds. Never having to pay a traffic ticket again if you so choose. You cannot be sued in any court in this country. Legally eliminate paying income taxes both federal and state. NOTE: The system will fight you on this to keep control over you even though they know it is legal for you to leave the system. Get all the money you have ever paid into the system returned back to you with interest from the IRS. Again they will not willingly return your money. Stop paying any more into the IRS, you can legally stop the stealing at the source with your employer. The above is an instant and healthy raise in pay. You will learn what the correct form(s) are for an American Citizen to use when filing your tax returns. Plus as a Sovereign you can stop paying altogether. You gain the ability to reverse the system back onto the courts or any other government agency and beat the pants off them in a way they cannot escape under common law. This puts the lawyers and judges on the run from you....." http://discharge-debt.com/id73.htm ================= Genesis 15:13-14/Galatians 3:16,17...29/THE US IS STILL A BRITISH COLONY EXTORTING TAXES FOR THE CROWN/Cornwallis to George Washington: A HOLY WAR will now begin against America [Psalm 2].....[ UNION JACK http://sweetliberty.org ] Micah 4:13, Habakkuk 2. ==================== Ezekiel 17:7-10/Satan On Our Dollar jesus-is-savior.com / Matthew 15:13 Now who would have a problem with this? Well, the ADL [the updated version of B'nai B'rith], founded in 1913, the same year as the "Federal" "Reserve" for one. Do a search for http://"ADL.org Redemption" and http://"ADL.org Sovereign Citizen". There is an epic battle raging behind the scenes over this.
"...as long as there..remain active enemies of the Christian church, we may hope to become Master of the World...the future Jewish King will never reign in the world before Christianity is overthrown - B'nai B'rith speech http://www.biblebelievers.org.au/luther.htm / http://bible.cc/psalms/83-4.htm
Any transaction you have with a bank, making a deposit, withdrawl, writing a check, transferring funds from savings to checking, etc., is going to cost you 1%. To start. Watch as people pull their money completely out of the banking/stocks/bonds system. Those in D.C. really don't understand how close this nation is to collapse and revolt.
I'd really like to see that article.
"The more artificial taboos and restrictions there are in the world, the more the people are impoverished.... The more that laws and regulations are given prominence, the more thieves and robbers there will be." - Lao Tzu, 6th century BC
Since DC refuses to make the economic changes needed I agree that collapse is an eventuality, but revolt? You've got to be kidding. This country isn't even close to that. Look how many incumbents just won their primaries. That is not the action of a people on the verge of revolt. When the economy gets bad enough that people can no longer afford cable or satellite television, THEN it might be realistic to talk about a revolt. Until then it's just wishful thinking on your part.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 Nothing in the State, everything outside the State, everything against the State - Jan Lester, Escape From Leviathan "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat Good order results spontaneously when things are let alone. - Zhuangzi
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#2. To: christine (#0)
#3. To: christine (#0)
I ran out of smart sounding quotes
#4. To: christine (#0)
The biggest is the loss of the "research and experimentation tax credit," but there are many, many others.
#5. To: Lod (#2)
Dear God.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#6. To: christine (#0)
#7. To: christine (#0)
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get.
#8. To: Esso (#5)
Any transaction you have with a bank, making a deposit, withdrawl, writing a check, transferring funds from savings to checking, etc., is going to cost you 1%.
#9. To: christine (#0)
(Edited)
#10. To: christine (#0)
#11. To: F.A. Hayek Fan (#10)
(Edited)
It will be interesting to see the reaction of the American sheeple when instead of receiving their annual tax refund they receive a tax bill.
#12. To: christine (#0)
(Edited)
#13. To: Prefrontal Vortex (#8)
#14. To: noone222 (#13)
#15. To: Esso, 4 (#5)
I saw an article a couple weeks ago that said O'boingo & his jew-crew is going to impose a 1% bank transaction tax as soon as the make-believe election is over in November.
#16. To: christine (#0)
#17. To: christine (#0)
#18. To: christine (#0)
#19. To: Lod (#15)
I really hope that this is bogus information.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#20. To: Red Jones (#0)
(Edited)
5Now therefore, if ye will obey my voice indeed, and keep my covenant, then ye shall be a peculiar treasure unto me above all people: for all the earth is mine: 6And ye shall be unto me a kingdom of priests, and an holy nation. These are the words which thou shalt speak unto the children of Israel.
The Exemption by Moses G. Washington revised on 10/19/2004 Disclaimer The ... which covers how to regain control of your straw man. Then you should study the article, Using Your Exemption....
http://www.truthsetsusfree.com/UsingYourExemption.pdf
#21. To: Esso (#5)
I saw an article a couple weeks ago that said O'boingo & his jew-crew is going to impose a 1% bank transaction tax as soon as the make-believe election is over in November.
#22. To: PaulCJ, Esso (#21)
#23. To: PaulCJ (#21)
Those in D.C. really don't understand how close this nation is to collapse and revolt.
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