"President Barack Obama's Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could
threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the
alternative minimum tax."
http://news.yahoo.com/s/ap/20100421/ap_on_go_co/us_congress_budget
The VAT tax is also on the table, for you middle class supporters of Obama. (I love the name of this one, trying to fool people into thinking that the tax will increase the value of what they buy! Of course, those who voted for Obama...
)
And the following tax increases have already taken effect, most aimed at the middle class Obama voter:
DEMOCRAT'S NEW TAX INCREASES (* INDICATES OBAMA'S BROKEN PLEDGE NOT TO RAISE TAXES ON THE MIDDLE CLASS)
HEALTH CARE BILL TAX INCREASES:New tax on individuals who do not purchase government approved health insurance *
$17 billionNew tax on employers who fail to fully comply with government health insurance mandates*
$52 billionNew 40% excise tax on certain high-cost health plans *
$32 billionNew ban on the purchase of over-the-counter drugs using funds from
FSAs, HSAs and HRAs*
$5.0 billionIncrease the Medicare tax on wages and self-employment income by
0.9% and impose a new 3.8% surtax on certain investment income (for individuals over $200,000 and couples over $250,000)
$210.2 billionIncrease, from 7.5% to 10% of income, the threshold after which
individuals can deduct out of pocket medical expenses*
$15.2 billionImpose a new $2,500 annual cap on FSA contributions *
$13 billionNew annual tax on health insurance *
$60.1 billion New annual tax on brand name pharmaceuticals *
$27 billionNew 2.3% excise tax on certain medical devices *
$20 billionNew 10% tax on indoor UV tanning services *
$2.7 billionNew tax on insured and self-insured health plans *
$2.6 billionDouble the penalty for non-qualified HSA distributions *
$1.4 billionEliminate the deduction for expenses allocable to Medicare Part D
Subsidy
$4.5 billionLimit the deduction for compensation to officers, employees and
directors of certain health insurance providers
$0.6 billionRequire information reporting on payments to corporations
$17.1 billionImpose additional requirements for section 501(c)(3) hospitals
$0.4 billionMake "black liquor" ineligible for cellulosic biofuel producer credit
$23.6 billionCodify economic substance doctrine and impose penalties for
Underpayments
$4.5 billionSCHIP TAX INCREASE:
Tobacco tax increase and expanded enforcement authority*
$65.5 billionFROM STIMULUS PACKAGE:
Repeal guidance allowing certain taxpayers to claim losses of an
acquired corporation
$7.0 billionUI BENEFITS, NOL RELIEF, AND HOMEBUYER CREDIT LAW:
Federal Unemployment surtaxes extended through June 2011 *
$2.6 billionDelay of rules to reduce the double taxation of worldwide American
employers until 2018 (worldwide interest allocation)
$20.1 billionHIRE ACT:
Delay of rules to reduce the double taxation of worldwide American
employers until 2021 (worldwide interest allocation)
$6.0 billionTOTAL TAX INCREASES = $670.341 BILLION AND COUNTING!
)