Hereâ€™s some pressure for lawmakers: If they donâ€™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.
"Today we pay taxes but our consent has been asked, and we have told the government to go ahead and tax us all they want to. We like it." - footnote in chapter on George III, from "The Decline & Fall of Practically Everybody," by Will Cuppy