"Here's some pressure for lawmakers:If they don't reach agreement on extending soon-to-expire Bush-era tax cuts, nearly all their constituents back home will get big tax increases.
A typical family of four with a household income of $50,000 a year would have to pay $2,900 more in taxes in 2011, according to a new analysis by Deloitte Tax LLP, a tax consulting firm. The same family making $100,000 a year would see its taxes rise by $4,500..." (SOURCE)
But wait, didn't Obama say:
"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." ~President Barack Obama
My family (like many others I'm sure) relies on our April tax return. Since we are a 'cash-n-carry' family with no credit cards (and subsequently no debt), we use our tax return for any big ticket/lump sum items we are in need of. I don't know if it was an Obama-coincidence, but last year we got the smallest amount back than we ever had in 13 years of marriage --yet we had an additional kid? Actually, thinking about what we got back and what taxes this could add...we might OWE this year if Obama has his way...and I'm quite sure I make under $250,000.