Reinstating middle class tax cuts scheduled to expire without upper bracket cuts needs strategy.

[dkf]

http://turbotax.intuit.com/tax-tools/tax-tips/irs-tax-return/5519.html

frenchiecat posted this link earlier detailing the many perks we will see for 2009 taxes but when you look into the future there are a lot of thresholds that are dropping as many expire.

I have a feeling the sausage making process will be ugly.

[DesertFlower]

1. thanks. i bookmarked it.

[Clio the Leo]

2. I WANT my state sales tax deduction Obama!

TN has a relatively high sales tax because we dont pay income taxes. If I DO NOT get to keep that credit, I will have NO choice .... but to cover the Obama logo on my '08 coffee thermos as a sport it around town. (that'll show him!) :)

[golfguru]

3. Oh shit

college tuition credits
will be reduced and gone after 2 years of college.

[Hippo_Tron]

4. I highly doubt it will be a problem

1) It can be passed through reconciliation unless we want to make them permanent

2) If Republicans tried to filibuster a tax cut, the teabaggers' heads might explode.

[Jennicut]

5. Child tax credit lowers after 2010....that effects me

"The credit of $1,000 per eligible child reverts to $500 after 2010. After 2010, none of the child tax credit will be refundable to taxpayers unless their earned income is more than $12,550. This is one of the many Bush tax cuts currently scheduled to expire after 2010."

If not reinstated our refund would be down $1000. I can live with that but hopefully it will be put back in.

[Dramarama]

6. This guy had it right

http://www.youtube.com/watch?v=aEdXrfIMdiU

[denimgirly]

7. It's time for Tax RAISES on Everyone..This Tax Cut frenzy for Years is crazy...

Although most tax cuts go to the super rich i think it is time someone did a reverse and finally started doing america a favor and raise taxes on everyone..especially the rich.

[Zynx]

8. Frankly, I would like to see all tax rates revert and then raise the top rate to 45%.