Higher Taxes are coming!!!!

The tax cuts sponsored by former President Bush are set to expire at the end of next year. That means of course unless Congress and President Obama in their infinite wisdom decide to extend them which is highly unlikely, prepare to bite the proverbial bullet. These cuts saved individual tax payers and cost the government 2.34 trillion. Once these tax cuts expire the top two tax rates up from 33 percent and 35 percent to 36 and 39.6 percent respectively. The average family making 500,000 the tax will be about 6,000 per year for a family making 1 million about 30 per year. Depending on your fiscal  orientation you may resist or embrace this change. For those of us who believe the key to growing this economy and truly ending thus recession  putting more money back I the hands of John Q.Public is the way to go. For those others who concur with our President government growth and largess is more preferable to an enriched populace. Please remember Uncle Sam, is broke and penniless to the tune of about 4.5 trillion dollars only by taking it from you and I does he have the power to keep spending. One thing for sure is elections have consequences. Please remember there is one constant in this ever changing universe and it is I your friendly REALTOR, if you are buying or selling or know someone who is, the right number to call is 803-917-1893 www.troyott.com  you will be glad you did. God Bless and Good Fortune to you all.