Did You Know About These 2013 Tax Changes?

Yes this is all due to Obamacare. This is exactly why he must go!!!!!

What happened to helping the middle class? This will crush us.

This is exactly why Obama didn't implement healthcare while he was in office. If he gets reelected, BEWARE of worse things he will implement.

Thanks Queen for posting this SCARY INFO. People need to wake up and see how bad it's going to be with Obama in a 2nd term.

I love how the Bush tax cuts are ok with some people now. BTW they expire end of this year 2012. We will ALL be poverty stricken if Obama doesn't leave them in place & get out of office.

And people are still blinded by what Obama is doing to us. He's for the middle class? PLEASE! He's all about giving what ever anyone has and giving it to the laziest people in America.

If people can't wake up, then maybe those who vote FOR Obama should pay the increased taxes the rest of us are forced to pay for his socialist agenda programs.

Honestly, I wish we would just go to a flat tax percentage for every taxpayer. No more deductions, credits, or anything else, everyone pays the same (low) percentage. If you want to keep it where people below the poverty line don't pay income tax, fine. The percentage should still be pretty low.

Here's my feeling on this. My husband is a captain in the US Army. Last year (as a result of a deployment) our taxable income was in the $40,000. So, in theory, we should have paid taxes for that income bracket. However, after the standard deduction and dependent exemptions, our taxable income was $17,000. BELOW the poverty line, and therefore, we received all of our income taxes paid prior to the deployment back. RIDICULOUS.

One of these days, I'm going to do some research and actually calculate what percentage would be required of each of us if we all paid the same percentage.

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ETA: Okay, I had to try. IF the data I collected is correct (notice the all caps IF) then here is what we should end up with.

Last year, there was a total of approximately $1.8 trillion collected in Federal Income tax. (I strictly looked at the income tax alone, not the SS or Medicare tax.) There was an approximate total of $15.09 trillion earned by American wage earners last year. Since the Associative Property applies, the sum of each wage earner's total input (if assumed to be an equal percentage) will be the same as the percentage of the total net earnings. SO, what percentage of $15.09 trillion yields $1.8 trillion?
$15.09T * x = $1.8 T
x = .11928 or approximately 11.93%

Not too bad.

P.S. Here are the websites I used. Even if the data itself is wrong, the same mathematical principals apply.
http://www.usgovernmentrevenue.com/
http://data.worldbank.org/country/united-states

yep-we are all screwed really. And sadly most of our nation doesn't realize this....they have drank the "just those 'rich' people making over $250,000" koolaid, along with most of the media. The time to do something about this is dwindling. If Obama wins a second term we will be looking at a much much poorer country. I find it shocking that people can't see this. But maybe not so shocking after all because the media is really not telling this story. The day after the election (if Obama wins) will be when we start hearing about it mainstream. When it will be too late. I am already figuring out ways to downsize my lifestyle in anticipation of this.

What about the 3% sales tax on the sale of property (like your home). Move and pay 3%; buy another home and pay 3%.

And the bank transaction tax. Deposit your paycheck by check or automatic deposit and pay 1%. Cash your Social Security check and pay 1% to the government.

The taxation is just begining if Obama wins.

OMG = Obama must go.

The new taxes are one thing, but look at what the two candidates have done with their investments. Do they bring sucess or failure to the table?
Romney's Bain Capital invested private money in:
•AMC Entertainment
•Burger King
•Burlington coat Factory
•Clear channel communication
•Dominos Pizza
•Dunkin Donuts
•Guitar Center
•The Sports Authority
•Staples
•Toy*R*Us
•Warner Music Group

All are now profitable, growing companies, employing hundreds of thousands of people.

Obama's Administration invested taxpayer money in:
•Solyndra - Bankrupt
•Ener 1- Bankrupt
•Beacon Power - Bankrupt
•Abound Solar - Bankrupt
•Amonix Solar - Bankrupt
•Spectra Watt - Bankrupt
•Eastern Energy - Bankrupt

All of these bankrupt companies were Obama Campaign contributors.
Stupidity and corruption on full display for anyone with 1/2 a brain. But then I may overestimate the electorate..

Good luck to you and yours.

And as a side note, the new healthcare laws have reduced the amount of pretax money that can be set aside in an FSA for 2013.

ETA:
I pulled up your link. You overlooked the NEW 3.8% medicare tax that will be imposed upon certain unearned income of individuals, trusts and estates.

ETA Again: really, none of this should be a surprise to anyone. Everything that the "government" "gives" us has to be paid for by taxes. Nothing is free. Even that birth control that we women are "entitled to" has to be paid for by somebody.

Wow! Thanks for bringing this to our attention. You sure don't get that information from the news or political hurranging (yes I either mispelled a word or made one up) that goes on.

I'm going to have to go back through our last few years taxes to really understand what that means for our family. It doesn't look good though, and my guess is the middle class is going to feel it the most.

Yes, thanks!
These changes are due to tax cuts which would have already effected your budget in 2011, but Obama extended thru 2013.
Currently the Dems plan to extend for families earning under $250K (ie: the middle class) this December.

Really interesting (and scary) info. Thanks for sharing. I feel as though I am a smart, educated woman, but I did not know about all of these things. Maybe since the media sort of sucks at giving us the correct info we should all just try to share it amongst ourselves here, and elsewhere. I was already leaning towards Romney (because my family is soooooo rich) but just reading this makes me lean a little bit more.

Thanks for the info.

Thank You! I knew about many of these, but this is good info everyone needs.

I've tried not to think about it. We can't do anything about it other than get poorer and keep our heads clear and our hearts strong.

More tent cities across America coming right up.

People are just beginning to get it. Too bad they weren't bothering to pay attention all these years while all the laws kept passing by under our noses. Too busy shopping perhaps.

Starting Jan 1, 2013 I am going to track our family actual tax amount spent (on purchases as well as income tax) and see what percentage of income it really is.
Either way, not surprised in more taxes...

However what can us average joe's do anyway?

I believe it has to do with Obama care going into effect. I could be wrong, but i do believe that is why

This is really helpful information. Thank you for posting it.

Man, facts are such pesky things! Thanks for sharing because I bet a lot of people had no idea about any of these, some may have some idea, but your post brings lots more to contemplate.

Thank you!

8 - don't think the bank transaction tax as you state has ever gotten past the paper, it had no sponsor back in June (and snopes says it's false) ... however, should something like that come to pass, people will be expecting to be paid fully in cash and then pay their bills also in cash - guess they didn't think that thing thru cause then the money won't be in the banks and available to loan