President Obama Can’t Get His Way
President threatens to stamp his feet and refuses to eat his pea’s. States includein the FED want your money. Obama needs a vacation he has worked so hard on spending.
TAX SURPRISE:Connecticutto grab more income
HARTFORD— Residents may or may not have noticed that more items are now subject to the sales tax, but it will be hard to miss the additional taxes that will be withheld from their paychecks in a week’s time.
Starting on Aug. 1, the state will begin to capture the boost in the income tax for 2011 approved by lawmakers in May, which is retroactive to the beginning of the calendar year.
Single and joint filers earning $50,000 a year will see about $200 in additional withholding through December, as will joint filers earning $100,000. Single filers making $100,000 will see about $605 disappear from their paychecks.
11 New Tax Hikes Coming In 2011
The lowest bracket for the personal income tax is going to increase from 10 percent to 15 percent.
The next lowest bracket for the personal income tax is going to increase from 25 percent to 28 percent.
The 28 percent tax bracket is going to increase to 31 percent.
The 33 percent tax bracket is going to increase to 36 percent.
The 35 percent tax bracket is going to increase to 39.6 percent.
In 2011, the death tax is scheduled to return. So instead of paying zero percent, estates of $1 million or more are going to be taxed at a rate of 55 percent.
The capital gains tax is going to increase from 15 percent to 20 percent.
The tax on dividends is going to increase from 15 percent to 39.6 percent.
The “marriage penalty” is also scheduled to be reinstated in 2011.
The “health care reform law” contains over a dozen new taxes that will be implemented in stages over the next decade. When you add all of these taxes to the taxes that were mentioned earlier, the result is going to be absolutely devastating. According to an analysis by the Congressional Joint Committee on Taxation the health care reform law will generate $409.2 billion in additional taxes by the year 2019.
And let’s not forget the many taxes Americans already pay
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Gasoline Tax
Gift Tax
Hunting License Tax
Inheritance Tax
Inventory tax IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Payroll Taxes
Property Tax
Real Estate Tax
Recreational Vehicle Tax
Road Toll Booth Taxes
Road Usage Taxes (Truckers)
Sales Taxes
School Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax
Telephone usage charge tax
Toll Bridge Taxes
Toll Tunnel Taxes
Traffic Fines (indirect taxation)
Trailer registration tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax
