Home Contact Register Subscribe to the Beacon Login

Thursday, July 22, 2010

DUSTIN GAWRYLOW: EXPIRING TAX CUTS HIT LOWEST INCOME EARNERS HARDEST

At the end of 2010, if nothing is done the tax cuts that were implimented in 2001 will disappear.  With them, a considerable tax break for the lowest income earners.  (Click here for in-depth coverage.)  

 

In 2001, a completely new 10% bracket was created for the first $8,500 worth of income.  Prior to that, this level paid 15%.  If the these tax cuts are not extended, that income level will have to pay another $350 each year in taxes.

 

This represents a 50% increase in taxes for this income level.

 

Since this income level is generally on other government supported programs, does it really make any sense to turn around and tax them another $350 in the middle of a recession?

 

Even for a lower middle class earner making $34,000 this will represent a 1% tax increase for them.

 

 

 

Click here to sign our online petition to tell our federal delegation that this is not acceptable. 

 

Dustin Gawrylow, Executive Director
 
North Dakota Taxpayers' Association
 Office Phone: (701) 751-2530

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Click here to email your elected representatives.

Comments

No Comments Yet

Post a Comment


Name   
Email   
URL   
Human?
  
 

Upload Image    

Remember my personal information

Notify me of follow-up comments?