Post # 1
Check out this link. This scares me quite a bit. DH and I would fall into the range where we’d be hit with owing $14,000+ more in taxes for 2012 because we’re in the “highest” income range.
How will this affect you if this doesn’t get resolved soon? This is just awful, anyone have any good news? And what about the AMT – the Alternative Minimum Tax? If it’s not patched sounds like it could be disastrous too.
Post # 3
I figure that things always tend to work out in the end, so I try not to worry about it.
Post # 4
I didn’t think the tax hits would be this bad on the lowest income groups. The $14,000 is the average for 108,000-506,000 (roughly), so those closer to 108,000 would probably be paying closer to 5,000 or something based on the lower ranges, no?
Post # 5
It sounds like the people in Washington are actually trying to work together now (as opposed to pre-election), so I’m not too concerned.
Post # 7
I try not to think about it and wait to see what actually happens. Whether you worry or not, whatever happens is going to happen. There’s nothing more I can do to prepare for it, so I feel it’s beyond my control.
Post # 8
@Sunfire: I am kinda terrified of what can happen with this. I don’t want to start a weddingbee war or anything but we all saw this coming with the election. The only thing that’s going to happen is they tax more and don’t make any cuts because that clearly solves the problem… I honestly and truly hope we have some sort of real revolution in this country. Voting for the same assholes on the ballot won’t fix a thing. Our representatives need to have the same benefits the American people have and the same average pay. Problem solved. They don’t live like us so they don’t think like us. Who can honestly say that in the state of our country we should be sending millions upon millions of dollars to countries which hate us? Has that been mentioned as a budget cut? (wait there is no budget but we’ll ignore that) No it hasn’t and that’s just wrong in so many ways.
For me married, FI and I will be considered highest. We make 108+ pretax exactly with raise at the end of the year. There are two of us. That’s $50ish each. We’ll be ruined and lets not forget about Obamacaretax.
Post # 9
Eh, just not going to worry about it!
Post # 11
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away men’s initiative and independence.
You cannot help men permanently by doing for them, what they could and should do for themselves.
Post # 12
@Cady: That’s what DH says, too, to not worry too much. I hope you’re right.
Post # 13
I’m not worried either. There has been a budget scare what seems like every quarter for the last few years because politicians can’t get their heads out of their arses, only before it was fears of the government shutting down because there wouldn’t be enough to pay people.
Post # 14
@jpalm13: the difference in caliber of politicians is amazing isn’t it?
Post # 15
@housebee: Tell me about it. And lets not forget he freed the slaves. I actually have the quote I posted framed. Bought it at a flea market. The guy selling laughed and said something about it being true and what a shame our country has become.
Post # 16
There really isn’t much to worry about. The change for the majority of tax brackets will be barely noticable.