Page 7 - Tax Calculation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

is nine more months to go. now, of that $195 billion, $150 billion comes from the middle class. $45 billion comes from those folks in the top 2% who obama wants to raise their taxes anyway. the next item, as you may remember, is a 2% payroll tax credit that people got as part of an anti-recession measure a couple years ago. that also expires, $116 billion coming out of consumers pockets. you have the alternative minimum tax which is this complex tax calculation that is hitting more and more of the middle class and each couple years congress has to do a patch to make it work. and then finally, you have this little catch-all of tax extenders, includes special tax breaks for nascar, track builders and all kinds of stuff. the point is that you have an enormous amount of tax revenue kicking in that affects consumers in a negative way. now, the spending side also happens because you remember that we had the sequestration debate. and so unless, again, congress does something, you ve got a mi

President obama150 billion45 billion95 billion50 billion195 billion5 billionTax calculationPayroll tax credit16 billion116 billionPoint of viewBunch of medicareTax breaksTrack buildersTax extenders