Taxmageddon Will Hit on January 1, 2013


The Bush tax cuts will expire on January 1. The Obamacare taxes will hit, unless the Supreme Court declares the law unconstitutional. The average Joe has no idea of what’s in store for him.

The liberal Washington Post calls this taxmageddon. I like the phrase. It has a sense of reality about it.

Here are highlights of which taxes will rise.

  • The 2001 and 2003 Bush “tax cuts” expire
  • Taxes on investment income
  • Estate and gift taxes
  • Income taxes
  • Marriage penalty returns
  • Child credit drops
  • Taxes on first $8700 of wages increase by 50 percent
  • Payroll taxes go from 4.2 percent back to 6.2 percent

The Heritage Foundation did an analysis of all the tax increases scheduled for 2013. The report adds these:

  • The Alternative Minimum Tax (AMT)
  • Five new Obamacare taxes
  • About 50 “tax extenders” will go away
  • Small business owners can no longer write off business equipment purchases immediately



Post Continues on teapartyeconomist.com





Posted in Taxes
255 comments on “Taxmageddon Will Hit on January 1, 2013
  1. thunter says:

    Mendel’s peas….P.T.Barnum….some…always…TAKE NOTE!

  2. Sean murry. says:

    These polls a big lie they are for obummer.

  3. What the heck is taking them SO LONG to make the decision ?    Waiting for a SWEETER POT to be offered by Obumble ???   

    RON PAUL !!    YES  !!

  4. Orrie461 says:

    If everyone who believes Ron Paul doesn’t have a chance voted for him he would win by a landslide. But, because they have been brainwashed by the talking heads of the MSM who continues to sweep Paul under the rug, they too will regret not supporting Ron Paul. 

    • Sarah417 says:

      I believe Ron Paul was also thrown under the bus by our own Republican National Committee.  They are all NWO globalists and Romney is just but one of them.  If We The People do not do something soon America will disappear.  Obama sees himself as the President of the NWO and Putin his Veep.  God help us.

  5. It’s all part of the game, folks, to methodically, carefully plan every move the progs make towards the collapse of the USA, from within, which is the only way they can bring us down.
    1. Destroy American business with the chains of the highest corporate tax rate in the world and the most insane pile of regulations and BS from the leftist EPA (a veil of ‘do gooders’ over their true purpose) to keep business from expanding, as if it could under these conditions, and to inhibit new business from even thinking about it.
    2. Keep us ever more dependent on foreign oil so that 0bama’s pals, petty dictators like Chaves, have us by the short hair and can bring our economy to it’s knees any time they want.
    3. Put the US coal industry out of business, close down hundreds of coal fired electric plants so that the US energy structure is stretched to the limit functionally and doubled in price to the consumer. Oh, no worries, I can easily afford a doubled electric bill. How ’bout you? (sarcasm, folks)
    4. A secondary effect of all the above tax increases will be the closing of vast numbers of small businesses and new start ups that just can’t cope with all of it, adding to the already record level of unemployment.
    5. And then there’s you, Joe Citizen, stuck in the middle of all this, lucky if you have a job, your ‘benefits’ run out if you don’t. Sign up for welfare, housing and food stamps so that you too can bask in the glow of government dependency like so many millions in poverty now do.
    It’s the socialist utopia they strive for, everyone “equal” at last.

    Get ready for this, click the name.

  6. del says:

    I wonder just who you thought the jerk with the muslim name who is an arab and a muslim was going to do to change your country? You are the pool of fools that allowed the piece of chit to squat in your white house and transform your country into commie land. You must be very proud of your stupid ignorance in allowing the prince of fools to ruin our once great country! You in the media also had your stupid allowance of his “greatness” to diminish your jobs and your truth telling.

  7. froggy546 says:

    And there will be a revolution in this country. I for one will no longer pay to support the lazy people collecting welfare. That has to be the first thing to go.

    • Donner says:

       I agree with you on a very possible revolution. No matter who wins in November, I can not see us NOT have some kind of revolt; by the left if the Republicans win, and by the right if Obama wins again, which would knowingly be by gross voting fraud. This administration has created a rich vs poor class split.

  8. Houstin says:

    Short Term – If every legal voter did not vote for any incumbent, then take away all special benefits to Representatives and Senators and let them receive the same as the working people. I said 20+years ago that the U.S. was headed for a Revolution, i.e., those that have against the have nots.

  9. Altsman1602 says:

    Does all this make you feel warm and fuzzy, especially when you think about the $822,000 the GSA spent in Las Vegas to entertain themselves on our tax dollars AND the $300,000 the government spent to move some real estate guy from Colorado to Hawaii where he worked for one year and then quit.  These are just some of the things we have found out about.  What else is going on?

    BE SURE AND CONTACT your congressmen and senators and tell them how angry you are about this.  I’ve done it already (got back a form letter telling me how glad they are to hear from me). 

    They won’t be too glad to hear from all of us tellling them there is going to be a revolution unless they straighten up our government. 

    American tax payers deserve better than the treatment we get from Washington.  After all…THEY WORK FOR US and not the other way around.. 

  10. raven says:

    I was just wondering. I get government help. Medicare/ Medicaid. I live in low income housing. I have 4 disabilities but I work part-time and it’s getting harder and harder as I get progressively more ill. I pay taxes every year and if I don’t work my insurance will be cut off because I now pay into the Medicaid system. Am I getting grouped into what people think are government handouts for the “lazy that don’t work but can”. or is there n exception for those that are truly disabled?

    • bananafanafo says:

      I think u answered ur own question, I WORK PART-TIME. With a 16 trillion in debt do u think to divide the people is the answer? Should we not look at the WHOLE TAX SYSTEM and everyone pitch in to lower the debt of OUR country or should we continue to divide the COUNTRY?

    • Jerry says:

      You bet there is an exception for the truly disabled. 

    • MorvaMarsh says:

      Hey, raven. No, you’re among the ones the system was originally meant for, the ones it was meant to help. The only reason no one is calling for a complete take-down of Medicaid, food-stamps and other government assistant programs is because of people in your situation. It’s our way of championing your cause, and it infuriates me that those who are not good, hard-working, honest, patriotic and right-thinking citizens have been able to play the system and take away from the good it’s doing for those who truly need the help. If even half of the really lazy ones lived as you do, tried at least to work like you do, welfare would be looked at in a far more positive light. You’re a torch-bearer, raven, a shining example of good citizenship, and I hope and pray you can live in as little pain as possible, that people like you will always be protected, cared for, and supported somehow – probably by those who understand and appreciate what you’re doing. You aren’t getting a hand-out, raven, because your need is real and your motives are pure. You’re getting a hand-up, and there’s the big difference. And thank you for reminding me why I don’t have to get bent out of shape over the large tax bill I and my husband have to pay this year – when we send in the check, I’ll think not of the “lazy that don’t work but can” – I’ll be thinking of you, and that makes it worthwhile. =)

  11. cthelight says:

    Does anyone remember who ruined this country prior to Obama being elected?  At least under Obama we are crawling out of the hole dug by the republicans and the terroist republican congress who has been holding the country hostage.  Down with the republican Communists.   Obama will win by a landslide.  Most people learn from the past mistakes made by the republicans, and trickle down economy, and not paying bills due(wars), and giving tax cuts when tax increases should have been installed.

    • J says:

       You’re going to have one heck of a headache when that koolaid wears off.

    • bananafanafo says:

      I do beleive the PLATFORM for the Democrat HAS ALWAYS BEEN to inslave the poor, so now that UR housing bubble idea DIDN’T WORK.  BLAME it on the other side. It may have bubbled in the BUSH term but it was and has always been the idea of the DEMOCRAT PLATFORM.
      Now it is to DIVIDE the country and that is ur answer to the 16 trillion in DEBT paydown. Or is it you got to spend to get out of debt? U people have no ideas, u never think anything out and this country is a MESS  

    • Jerry says:

      Come out into the daylight my friend; Obama is responsible for adding 5 trillion dollars to the national debt in just three years… And he says he needs more money to fix everything.
      Meanwhile he is doing everything he can to reduce our military (doesn’t believe we should be a super power anymore). He goes along with getting God out of our country. Trying his darndest to triple our energy cost to make alternative energy sources seem attractive. I guarantee you ain’t going to like it if he is re-elected.

    • Chiefatk says:

      What part of Russia are you from? Just where is the ladder you are using to climb out of the hole?
      Have you forgotten about all of the wasteful programs Obummer has initiated since he became the sitting president? You need to open your eyes and get a new calculator. I can only assume you are blinded by color.

    • bananafanafo says:

      We are not crawling out of the hole by having the Federal Reserve print money and invest it into the stock market to keep us floating. WITHOUT JOBS we will not CRAWL anywhere but worst “STAGNATION” without any revenue. Everytime they print, all US citizens $ goes down in value and the countries that LOAN to our country will WANT TO DUMP or NOT LOAN. Do u know anything about economics or are u a NO BRAIN talking point person that has no IDEA what they are talking about?  

    • Jingals33 says:

      whatever it is that you are smoking, I want some!

    • NymRod says:

      Delusional kool-aid drunken 0bot that believes the biggest lie ever told.

      You are a fool among fools, a mindless idiot uncapable of an original thought.

    • SamIAm says:

      Thats the typical radical lefts standard line…. BLAME BUSH!  Obama has done nothing for this country except raise our national debt by 5 TRILLION in just 3 1/2 years. Is that what you mean by digging us out of a hole?

    • Wolfman4048 says:

      i guess you like being poor and struggleing, at least under the republican regime you can be able to support your family,and if you remember prior to ther communist obama regime you didnt have high fuel prices which translated into higher prices at the pumps,grocery stores and more business closeing, homes forclosed on. why because of the obama economic policy of unemployment checks make the government controlled country run better ,due to total government controll. so mr cthe light go ahead n vote 4 the idiot, i guess you are on one of his free money welfare programs, and enjoy your free handouts. i guess you are too lazy to go get a job and be like a real american and work for all of the things in life you want. have you ever seen the results of a government run country,if not  i suggest you go and visit one.,or better then that move there. mr obama has to go.

  12. Wayne Peterkin says:

    No doubt that the tax increases scheduled for 1/1/2013 are horrific. If Obama is reelected, he will likely not oppose these increases because he is a dedicated Marxist who sincerely believes that the government can spend our money better than we can; furthermore, he has no fear of not being reelected at that point. He will say during the campaigning that he opposes them to gain votes, but he really does not. The most likely scenario is that most of these tax increases will be suspended at the last minute, because even the Democrats understand that the people will be very angry if these increases actually happen. 

  13. Dla7577 says:

    People like cthelight make me ill.  I see he conveniently forgets to mention that Obama himself added a few trillion to the debt by his own crackpot ideas.  Wars can happen under anyone’s watch — it’s not always of our own choice — and the government should have contingency funds for this kind of thing.  When I voted for Obama, I thought he would be a reformer.  Was I ever wrong!  He reformed things all right, mostly for the worse.  Never voting for that guy again.  Forget about that landslide…..

    • NY George says:

       Well, many people voted for him just to make history… wrong reason of course. I can understand people wanting change, good reason, but the change was ill defined, and downright destructive. Thank you for being honest! I did however see the underlying message when Obama said to Joe Plumber… we need to spread the wealth. Of course the Gov’t can’t do that, only business people or charitable individuals can. Please vote Conservative this time… although Romney is not the hard conservative I would hope for….PLEASE PLEASE PLEASE while your at it, vote ROW-C…

    • bananafanafo says:

      People like cthelight probably doesn’t even know that Obama has send our troops to Central Africa with no American interest and they are still there. We went into Libya with no American interest. The mid east is a MESS because of “know nothing” policies. Now they have the Red Sea to use against the World exports/imports. This “on the job training” is not working at well the only think he learned is to DIVIDE this great country. The poor in this country HAVE NO IDEA what poor is BUT if they continue down this path THEY WILL!!!  

    • bananafanafo says:

      THANK U for LOVING UR COUNTRY.

  14. bananafanafo says:

    TO ALL the people talking Democrat or Republic. THIS is NOT ABOUT PARTY, this is about the morals we bring our kids up on. Work hard and try to be the best u can be. BUT now u want my kid to WORK their way to the top and get punished or penalized by the neighbor who did not sacrific like my child. The American dream has ALWAYS worked. It creates JOBS abundance for all to get up and get a job and be self responsible- their are some that will not take that opportunity – so it is not that our system doesn’t work – it is that some do not want to help themselves. Our system creates opportunity and u want to cut off the opportunity to those that want to live the AMERICAN DREAM. 

  15. bananafanafo says:

    To those that are trying to DIVIDE OUR COUNTRY: U are the rear end of the donkey. U have NO SOLUTION to solve the HUGE DEBT and for the first time in history downgrade of the US CREDIT RATING. If ur solution divides IT’S NOT GOING TO WORK go back to sleep or come up with a SOLUTION that EVERYONE can get behind. The oldies RACISM is Rich vs Poor, and I’m not going down that road. EVERYONE must HELP to REDUCE THE U.S. of A DEBT or “EVERYONE”  SINKS.