Posted 1:08 PM by Susan Darst Williams

HOW IS ANYBODY GOING TO AFFORD
SCHOOL SUPPLIES NEXT YEAR,
MUCH LESS COLLEGE TUITION?

Keep this in mind when you vote in November for new school board members, legislators, and anybody else who can levy taxes. What a bunch of anti-family, anti-education tax increases we are going to see! Do not vote for anybody who ISN'T talking about the urgent need to cut taxes and government spending, STAT, and to reverse these horrendous increases.

Imagine how hard it is going to be to save for your children's college educations now. The Democratically-controlled Congress and Democratic Party President have set in place these tax increases on you, starting Jan. 1:

-- Increase of income taxes; for example, the 35% tax bracket zooms up to 39.6%

-- New tax on the value of your health-care benefits

-- Loss of deductions for tuition, student loans and interest payments, as well as health savings accounts

-- Capital gains tax zooms up from 15% to 20%

-- Dividends tax zooms up from 15% to 39.6%

-- Death tax returns; that's 55% tax after the first $1 million in an estate, which these days, isn't all that doggone much

-- Child tax credit is cut in half, to $500

-- Marriage penalty tax is back

-- Dependent-care and adoption tax credits gone

Labels: effect of Jan. 1 tax increases on family educational saving