Tax agreement news for you

Tuesday, December 14, 2010

Some information you might find useful about the tax agreement:

Cost of Provisions in the Tax Agreement:

Unemployment Insurance -- $57B

2009 Tax Provisions -- $44B

"Traditional" Extenders -- $55B

Expensing for Employers -- $22B

Reduction in Estate Tax -- $68B

Payroll tax relief for workers -- $112B

Tax hike prevention from extending current rates -- $364

Tax hike prevention from AMT patch -- $137B

THE TAX AGREEMENT CHOICE:
To Prevent or Not Prevent Job-Killing Tax Increases

YES vote	NO vote
Prevents tax increase on working Americans, small businesses and job-creating investments	Job-killing $3.8 trillion tax increase kicks in on January 1 and will be paid for by every taxpayer and most small businesses.
Kills the refundable Making Work Pay credit and replaces it with a payroll tax cut for everyone who pays the FICA tax.	Middle-class families lose roughly $100 per week out of their paychecks.
Reduces the Death Tax to 35% (down from 55% next year) and increases the exemption amount to $5 million per spouse (up from $1 million next year).	Disaster for family budgets, employers and the economy.