Play it safe... plan for expiration

[Bprice]

Obama has pledged that he does not want to raise taxes on families making less than $250k (singles $200k), and his desire is to make the 10, 15, 25, and 28% tax brackets permanent. However, it is August 5th, and an extension to the 01 and 03 tax cuts haven't been signed into law yet that expire in 147 days. Now, not casting stones, but I believe everyone should glance at there 2011 budget and plan for the worse.I know what some will say, everything was fine before 01, fair enough. However, there are many of Americans whose only tax experience has only been within the last 10 or so years (I'm 28). </p>

This article from Forbes can show how it will effect you if they aren't extended:</p>

http://www.forbes.com/2010/07/22/expiring-bush-cuts-affect-personal-finance-taxes.html</p>

Just wanted to send this out so you can plan ahead, and not be caught by surprise, if they don't get extended. HOpefully they will.</p>

 

[Guest]

How do we plan ahead to thwart the effects of someone that will not stop until they control every penny of the US economy?

 

[Bprice]

For starts, cutting whatever increase there is to your specific tax bracket effected out of your budget. But, yeah, I get what you're saying

 

[churly]

Go vote today.