Tax Brackets and Provisions Little Changed For 2010

[haha]

IRS rolls out 2010 tax rates - Puget Sound Business Journal (Seattle):

Small CPI inflation equals small adjustments.

Ha

 

[youbet]

IRS rolls out 2010 tax rates - Puget Sound Business Journal (Seattle):

Small CPI inflation equals small adjustments.

Ha

Thanks Ha. So........ increased rates for married couples earning over $250k and singles earning over $200 must be coming in future years.

 

[audreyh1]

Hmmmm - well, I guess I can reuse this years spreadsheets for estimated taxes then!

Audrey

 

[Zathras]

Thanks Ha. So........ increased rates for married couples earning over $250k and singles earning over $200 must be coming in future years.

I thought everyone knew that. That is what has been stated all along.

 

[youbet]

I thought everyone knew that. That is what has been stated all along.

So, you're the guy in the know...... What year will the new tax rates for those "wealthy" folks kick in? I really haven't heard.

 

[Zathras]

In every news story I have heard that talks about the timing, they will kick in when the Bush tax cuts expire.
Although, there have also been more recent news reports indicating that no taxes would be raised while we are in the recesion.
So while I can't give you a definitive answer, it seems at the very soonest it will be when the Bush tax cuts are due to expire and could be a year or two later.

 

[samclem]

I think the phrase "Bush tax cuts" is kinda funny. I didn't know the president could make tax cuts, I figured it was law or something.

 

[youbet]

In every news story I have heard that talks about the timing, they will kick in when the Bush tax cuts expire.
Although, there have also been more recent news reports indicating that no taxes would be raised while we are in the recesion.
So while I can't give you a definitive answer, it seems at the very soonest it will be when the Bush tax cuts are due to expire and could be a year or two later.

OK, thanks. It sounded like you had more definitive info than that. I guess we'll just have to wait and see.

 

[WilliamG]

Anyone seen any projections of what 2011 tax rates may look like; i.e., more specifically what rolling back the tax breaks thru 2010 would look like?

 

[Zathras]

I think the phrase "Bush tax cuts" is kinda funny. I didn't know the president could make tax cuts, I figured it was law or something.

Hmm, I do suppose it would be more accurate to say: 'The tax cuts which congress passed while bush was in office'.
Bush tax cuts is much shorter though
It does seem that we (general public) give lots of credit/blame to the POTUS for things congress passes while they are in office.

 

[teejayevans]

Hmm, I do suppose it would be more accurate to say: 'The tax cuts which congress passed while bush was in office'.
Bush tax cuts is much shorter though
It does seem that we (general public) give lots of credit/blame to the POTUS for things congress passes while they are in office.

I'm no fan of Bush Jr but he ran on tax cuts and push them through.
Give him some credit, if you going to blame him for Katrina/Iraq,
you got give him credit where credit is due.
Likewise, Obama will get credit(or blame) for health care reform.
Is the credit/blame total deserved, nope, it's the way of the world.
TJ

 

[Zathras]

I'm no fan of Bush Jr but he ran on tax cuts and push them through.
Give him some credit, if you going to blame him for Katrina/Iraq,
you got give him credit where credit is due....

My comment was in response to Sam's post.
He did run on tax breaks and he did use the influence of his post to help push them through.
While congress actually voted on the tax breaks, bush certainly deserves some credit for getting it done.

 

[samclem]

I was just hoping to get you to say "Congress's War in Iraq" by the same line of reasoning . . .