Taxes are going to be an important economic issue in the upcoming congressional switch.
Many races are going to be very close with the control of the house and possibly the senate up for grabs.
Some members of both groups are working to move their agenda ahead so that they are able to end the terrible taxes that are assigned to so many individuals.
Tax cuts that were initiated during the Bush era are expected to be phased out due to their expiration at the end of this year.
However, due to the tough economic climate, many people are wondering whether or not they will be able to afford paying their higher tax rates that are to come down the pipeline in the near future.
Lawmakers are expected to try to lower taxes for almost everyone.
President Obama has proposed that anyone who earns less than $200,000 or is a joint filer and earns less than $250,000 not see any tax increase.
Some lawmakers are also talking about exemptions to the alternative-minimum tax or AMT by the end of the year.
29 million people may have to pay this tax next year instead of just four million in 2009.
Taxes are a major sticking point for both parties.
While no one would like to see taxes increase, the affected portion of the population varies from group to group.
Taxes are going to have to be kept at a low rate to help stimulate the economy.
Many portions of the economy might find it difficult to get through their day to day expenses with increased taxes.
Taxes are expected to go up by $2,000 for the average American family should the government fail to do anything.
The immense pressure from the public and current state of the economy should ensure that action will be taken soon!
Many races are going to be very close with the control of the house and possibly the senate up for grabs.
Some members of both groups are working to move their agenda ahead so that they are able to end the terrible taxes that are assigned to so many individuals.
Tax cuts that were initiated during the Bush era are expected to be phased out due to their expiration at the end of this year.
However, due to the tough economic climate, many people are wondering whether or not they will be able to afford paying their higher tax rates that are to come down the pipeline in the near future.
Lawmakers are expected to try to lower taxes for almost everyone.
President Obama has proposed that anyone who earns less than $200,000 or is a joint filer and earns less than $250,000 not see any tax increase.
Some lawmakers are also talking about exemptions to the alternative-minimum tax or AMT by the end of the year.
29 million people may have to pay this tax next year instead of just four million in 2009.
Taxes are a major sticking point for both parties.
While no one would like to see taxes increase, the affected portion of the population varies from group to group.
Taxes are going to have to be kept at a low rate to help stimulate the economy.
Many portions of the economy might find it difficult to get through their day to day expenses with increased taxes.
Taxes are expected to go up by $2,000 for the average American family should the government fail to do anything.
The immense pressure from the public and current state of the economy should ensure that action will be taken soon!