White House: Families' taxes could go up $1,600

Republicans want to renew all the tax cuts for one year to give the two sides time to negotiate permanent tax changes.

President Barack Obama and Democrats insist they will only extend the reductions for households earning below $250,000.

Democratic Sen. Patty Murray of Washington has said if there was no deal by January, her party would be willing to let all the tax cuts expire to pressure Republicans to give ground.

The $1,600 average is for families earning $250,000 or less.

Pray tell, why would anyone earning more than a quarter million dollars a year even worry about this? Would it really be that financially devastating?

PayThat CEO wrote:

Republicans want to renew all the tax cuts for one year to give the two sides time to negotiate permanent tax changes.
President Barack Obama and Democrats insist they will only extend the reductions for households earning below $250,000.
Democratic Sen. Patty Murray of Washington has said if there was no deal by January, her party would be willing to let all the tax cuts expire to pressure Republicans to give ground.
The $1,600 average is for families earning $250,000 or less.
Pray tell, why would anyone earning more than a quarter million dollars a year even worry about this? Would it really be that financially devastating?

it's obvious you are clueless about the economics of this.
i just wonder if you'd be this complacent if the other party was making the threat?

if you really think FEDERAL taxes are going up JUST FOR THOSE MAKING $250 ,000 or more A YEAR AND ONLY THEM,better get a chinese calculator at the dollar store.taxes, fees,loss of tax write offs,higher tolls,consumption taxes,not to mention that YOUR STATE has taxes fees ,not to mention your county has taxes ,fees.....AND YOUR WALLET CANT TELL THE DIFFERANCE. your federal gvt is 16 trillion broke.so triple it .. every state all 50 of them average 4 trillion broke ,each.so triple it, ALL 6500 COUNTIES HAVE DEBT ,SO TRIPLE IT,,WHY ?? because if the past is any indicator,THEIR ALL LIARS..YOUR GOVERNMENT DEBT ....."IS YOUR DEBT"...../ NOT THE BANK OF CHINA.

Poll: Majority want tax cuts for all, even the wealthy

WASHINGTON — A majority of Americans want the Bush tax cuts extended for everyone, despite a strong push by President Barack Obama to eliminate them on higher incomes, according to a new McClatchy-Marist poll.

The poll found 52 percent of registered voters saying they want all the tax cuts extended, including the tax cuts for incomes above $250,000, while 43 percent want the cuts extended just for incomes below that threshhold.

Read more here: http://www.mcclatchydc.com/2012/07/13/156148/...

And this poll oversampled Democrats to Republicans (a common practice) 36% to 29%.

http://s3.documentcloud.org/documents/399403/...

So how can someone making under $250,000 a year, have their taxes go up by $1,600, when for the last 12 years, ONLY THE RICH HAD GOTTEN TAX CUTS?

1600 is the average. that means that half the people will pay MORE THAN 1600 ,and half would pay less than 1600.AND OF COURSE IT WILL BE MEANS TESTED,which means those at poverty ,will get rebates, .and because the tax tables are SKEWED and have many ands ,ifs and buts.winners and loosers are in the fine print of the law makers..and truly you realize that state taxes are a horse of a different color,as is county taxes .its the old 3 handed tax game.and the only winners are the TAX MEN

after you have maxxed out your credit cards,printed too many coupons,left EMAILS to the bank of china,borrowed the future the only thing left is "THE KIDS PIGGY BANK"......read my lipps.... "know kneu taxalations". just new taxation,

average 1600 for the feds,ANY BODY WANT TO GUESS HOW MUCH THE STATS ARE GONNA OBSCOND WITH ??and have you even considered the county??....my last purchase the old 9oz, potato chip bag is down to 7oz.at $2.00 a bag...

over 200 years ago,EVERYBODY WAS totally outraged ABOUT :TAX ON TEA: and it started the revolutionary war .today its MUCH MUCH MUCH WORSE,so wheres the outrage today? or is it that the population JUST CANT READ,OR COUNT.....AND THE NUMBER OF GOVERNMENT BANRUPCIES KEEPS GROWING..so now who the tax hog