News/Commentary, Opinion April 18, 2012

We Survived Tax Season…This Time

According to laws already on the books, taxes go up for most of us in 2013, and you'll be working until the end of April purely to pay taxes.

Congratulations on surviving tax season.

Until April 17th, for an average American, every penny earned goes to taxes—federal, state and local. The total tax burden costs more than the total amount we spend on housing, food and clothing combined.

Working for government until mid-April is bad enough, but next year could be worse. According to laws already on the books, taxes go up for most of us in 2013, and you’ll be working until the end of April purely to pay taxes.

It could be a disaster of Biblical proportions, which is why the 2013 tax hikes are being called Taxmageddon. It’s because the tax cuts passed in 2011 were temporary, and because Obamacare’s permanent new tax hikes kick-in come January.

Getting through this year’s tax season was bad enough, but unless Congress and the President act, next year’s will be worse.

From The Heritage Foundation, I’m Ernest Istook.

[audio: http://com.talkradionews.audio.s3.amazonaws.com/2012/4/20120418Istook.mp3]

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About Ernest Istook

View all posts by Ernest Istook
Ernest Istook
Ernest J. Istook Jr. brings extensive congressional experience to bear on public policy issues as a Distinguished Fellow at The Heritage Foundation. He also hosts the talk radio show “Istook Live!” from Heritage’s Robert H. Bruce radio studio. Istook served 14 years in the U.S. House of Representatives before joining Heritage in 2007. Follow Ernest on Twitter @ErnestIstook
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