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Nov. 5 (Bloomberg) -- The U.S. government is spending $787 billion to stimulate the economy, the deficit is $1.4 trillion and Congress is debating costly changes to health care. The taxpayers’ bill to pay for it isn’t far behind.
“Something is going to have to be done to raise revenue unless entitlement spending is cut,” said Gerald Prante, senior economist for the Washington-based Tax Foundation.
Federal tax rates may rise in 2011 to as high as 39.6 percent, up from 35 percent
Oh no they only do that if your a big multi national bank...
for those earning more than $373,650
Originally posted by DaddyBare
This article obviously is about just how high our taxes will be raised starting in 2011. You did know this huge deficit had to be paid back right???