Saturday, August 7, 2010

Bush's Tax Cuts For All Taxpayers Expire Soon

I got this info directly from The Leage Of American Voters. This is their words:

The Bush tax cuts, enacted in 2001 and 2003, will fully and automatically expire as of Dec. 31, 2010;

The expiration of these cuts will cause a massive tax rate increase for almost all working Americans, including those in the:

35% bracket which will increase to 39.6%
33% bracket which will increase to 36%
28% bracket which will increase to 31%
25% bracket which will increase to 28%
10% and 15% will condense to 15%

The capital gains tax will increase from 15% to 20%

The tax on dividends will increase from 15% to 39.6%