"Six Months to Go Until The Largest Tax Hikes in History"

Ryan Ellis tells it all and notes that these tax increases hit families and small businesses who believed their taxes would not rise.

Based on information found on The Joint Committee On Taxation website, Ryan sees three waves of tax increases starting January 1, 2011. The first wave allows the Bush tax cuts to expire and personal tax brackets rise from a range of 10-35% to 15-39.6%. The second wave is for the Obama Health Reform Act. Ellis cites 20 new or higher taxes here including disallowing Health Savings Accounts, Flexible Spending Accounts and Health Reimbursement accounts. The third wave will allow the Alternative Minimum Tax to capture 28 million families up from 4 million the previous year.

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