SELECTED PRESS RELEASE:
posted on: 7/30/2012 10:45:57 PM EST
Hold on to your wallet USA - O'Tax man cometh
US Taxes, Taxmageddon, Government taxes

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If President Obama and Congress fail to act this year, an enormous, unprecedented tax increase will fall on American taxpayers starting on January 1, 2013. The Washington Post called the looming tax increase “Taxmageddon”

The opposing sides of this issue - Democrats who control the Senate and Republicans who control the House of Representatives seem unlikely to compromise...

#1 Harry Reid - who has run the Senate since 2007 - and not passed a single budget during that time...

the first time in history that's happened...

vows not to allow the tax cuts that President Bush signed into law some years ago to continue Unless the tax rates for higher income Americans are significantly increased...

#2 John Boehner - who has run the House of Representatives since 2010...

vows not allow tax increases for any Americans...

#3 President Obama has vowed not to support any change that won't increase taxes so...

It's probable that January 2013 will greatly benefit the US Government... in the form of Much higher taxes for American taxpayers...

US families will see an average tax increase of $4,138 January 1st of 2013...

How much per year?

Baby boomers’ average increase will be $4,223...
Low-income taxpayers can expect a $1,207 increase
Millennials will be hit with an average hike of $1,099
Retirees $857 a year


Check out the infographic to see where you fall in Your State -  ibourl.com/xfm - courtesy of the Heritage Foundation

Most of the 494 Billion dollar - $494,000,000,000 - tax increase will be paid by middle- and low-income Americans because 60 percent of the Bush tax cuts following September 11 went to middle- and low-income taxpayers...

Retirees will be hit very hard by the Alternative Minimum Tax (AMT) Talk to your accountant if you don't know enough about the AMT...

The expiration of the payroll tax cut is a tax hike almost exclusively on middle- and low-income families...

Seven different categories of tax break will expire..

Fortunately just 5 of the 18 new tax hikes from Obamacare will begin - the other 13 don't kick in until after the next election...

Other than prayer and contacting your elected Representative there is little you - as a US Taxpayer can do...

Here are my only proactive thoughts...

#1 - If you have a substantial estate - death Now before the inheritance tax increases would help your heirs - not that I have a solution to that - just an observation

#2 - If you have expenses for things like office supplies and other business expenses - deferring them until Next year makes mathematical good sense because you'll have higher taxes then and get more benefit for deductible expenses

#3 - If you have gains in tax deferred investments - like IRA's you are better off - again mathematically - to cash them in now under lower tax rates than after January 1st

Let's hope for change - or be ready to pay the price - for some it will be taxes - for some that work for some of those people - it will be their jobs

Bill Bateman - that's like Batman with an "E" in the middle - 21st Century Financial

PS - remember there is always a flip side - if you are in financial planning - accounting - or a lawyer involved in high end tax planning - you should have more business than you can handle






BUSINESS OWNER COMMENTS:  leave comment
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Bill Bateman    290 day(s) ago
Big Government is a Global problem - all of us - whether we live in France - Spain - USA - UK - Portugal - Greece - Iceland tend to think it's only where we are. We all need to work together to dramatically reduce the size and scope of bloated out of control Governments.
 
Don Fox   290 day(s) ago
Thanks for clarifying this for all of us Bill well done and well presented to provide both sides..not an easy one to fix
 
André Feldman   290 day(s) ago
Very Good Info my friend... Taxes are killing most of the Country's in Europe!! In Portugal You can't even go to the Supermarket, that You'll pay 23% almost in every consuming "need" that You want. And being the USA a superpower, ALL of Us on the other side of the Atlantic will feel all this dramatic changes!! Grab this HUG and have a Terrific Friday....
 
Eugene Wallace   290 day(s) ago
Great Information And Thank You Very Much....
 
Bill Bateman    290 day(s) ago
There are 3 scenarios that I can envision #1 - the Senate "folds" at the end under poll pressure that they are going to lose seats #2 - Romney becomes president and his coattails bring in a Republican Senate majority - tax increase is repealed #3 - President Obama is reelected - taxes stand - major recession follows
 
Harry Findlay   291 day(s) ago
Bill, you told it like it is. Few in our government are working for the people. We hired them and now they ignore what the people want and only think of themselves and their power. We need divine intervention! God bless our County!
 
Pat (Adams) McGraw   291 day(s) ago
Thanks for sharing, Bill! I'm not a politcal person by any stretch of the imagination, but this stuff is scarey. I'm going to try to keep my focus on God and hope and pray that my family and me, and everyone else, survivies this mess. GO IBO! God Bless!
 
Sabrina Campbell   291 day(s) ago
This is very bad for those that work regular "9-5" JOBS. Thank goodness I work for myself! Thank you for the info Bill, I will certainly pass it on to others.
 
Bill Bateman    292 day(s) ago
One thing we can do is teach the value of term limits - Government - like Church Leadership - was always supposed to be a temporary call to service - not a career.
 
Sharla Davidson   293 day(s) ago
Wonderful post! Great content...gotta love politics!
 
Greg Lawrence   293 day(s) ago
So which way do we turn? We're doomed if we do, and doomed if we don't. It sickens me how those people that we elect who are suppose to be looking for our interest, but that seems far from their minds. Their main focus is to win for their party. They don’t understand that this is not a game. They are so out of touch. It is time for us to send them that message in November. Let’s send that message using the words of Donald Trump, “YOU’RE FIRED!”
 
Bill Bateman    293 day(s) ago
I hear you Barbara - and then the UK's health care system got these big Kudo's at the beginning of the Olympics - I was laughing so hard I almost... :)
 
Barbara Blevins    294 day(s) ago
No different here in the UK - worrying times ! Very interesting reading Bill, though silghtly depressing - think I'll reach for the Cadburys Dairy Milk, still affordable to most of us !
 
Bill Bateman    294 day(s) ago
Interesting and disturbing at the same time - thanks for the feedback - educate who you can - encourage who you should - avoid the worthless ... :)
 
Silvia Shamus   294 day(s) ago
This could be wrong for many of us. We need to know how to financially structure ourselves when it comes to this...Donald trump doesn't care much about miles and office supplies. They know how to do this and how to move money around so if we make the money we want we need to play like the big boys.
 
Julia Gulbrandson   294 day(s) ago
They also want to raise income on dividends. Not a big deal if you have millions, but for lower class and middle class this could really hurt. I think we need to "throw out" the current tax plans and start over. Personally, I believe all government representatives are at fault. We need a new party (and I don't mean the Tea Party) in our house and senate. Thanks for sharing.
 
ralf dooley   294 day(s) ago
Nice blogpost about goverment taxes. Have a great day
 
William Gowder jr.   294 day(s) ago
reality stinks
 
Paul Kemp   294 day(s) ago
This country's in big trouble no matter who wins the election. Nobody want to make serious cuts to spending, without which nothing will improve. More taxes will strangle the economy. Many of the middle class and so-called "rich" are going to be voting with their feet because Congress has no clue how to live within a budget. Food for thought -- Thanks, Bill!
 


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7/26/2012  Twitter Tips - Using Lists
7/25/2012  I know You are an expert - I read your book
7/24/2012  Hold 'em close & love 'em
7/23/2012  Speaking 4 business
7/23/2012  Would $250 a week Extra...Change your Life?
7/22/2012  Linked IBO
7/21/2012  EZ "little" money online right Now
7/21/2012  SPAM - Stupid Pointless Annoying Message
7/20/2012  You ought to be in Pictures...
7/19/2012  Local Lead Generation Training
7/18/2012  Don't Get Even - Get Over It
7/18/2012  $100 a day using YouTube? Without Any content of your own?
7/17/2012  RIP Stephen Covey - Thank you for the 7 Habits
7/17/2012  Twitter is a LOT of work
7/16/2012  Lemonade Marketing
7/15/2012  Tweet UP - IBO
7/15/2012  Time Management - On Steroids - for pennies
7/14/2012  Love your kids/grandchildren? - Keep them safe
7/14/2012  shut the front door - Watch your language
7/13/2012  ViralPrint - an Industry perspective
7/12/2012  Politics and Religion - Taboo or Today
7/12/2012  The Riches of the Niches - Part 2
7/11/2012  The Riches of the Niches
7/11/2012  Face It - You gotta' be on Facebook
7/10/2012  Greyhounds & Gymnasts
7/10/2012  Marketing on a Shoestring
7/9/2012  Success Motivation
7/9/2012  IBOToolbox Lesson - Edit your Blogs
7/8/2012  Gratitude in your mailbox
7/7/2012  For Sale by Owner - Online
7/7/2012  Tabzi - Internet Traffic Tool I recommend
7/5/2012  The Power of the Words
7/4/2012  Why I think PayDotCom is the Best Affiliate Marketplace on the Ne
7/4/2012  CashBlurbs - Posting for Profit
7/3/2012  4th of July
7/2/2012  Video Evangelism
7/1/2012  Blog Real Estate - Blogestate
7/1/2012  IBOToolbox Lesson - Growing your Associate Following
6/29/2012  WordPress - "Camp" - WordCamp
6/28/2012  Health Care in the USA and Today's Supreme Decision
6/27/2012  Moving from "I" to "We"
6/26/2012  IBOToolbox Lesson -"Chat it Up" on IBO - using the chat rooms
6/26/2012  Take God to Work - Colossians 3:23-24
6/25/2012  Revealed - Viral Marketing made EZ
6/25/2012  A Landslide of Subscribers - coming to you soon
6/24/2012  Business Opportunities with Generation Y - USA
6/24/2012  Man's Best Friend
6/23/2012  YOUR Information Mall
6/20/2012  Making Money with Video - Talk Fusion explained
6/19/2012  Mike Filsaime - NEW Technology Runs All Your Sales Funnels Drag-N
6/18/2012  IBOToolbox Lesson - Bored to death or Driven to action? Blogging
6/18/2012  Genbook - The Online Business Scheduling Software - Get your Time
6/16/2012  Success Rules of the Road Part 3
6/15/2012  Success Rules of the Road Part 2
6/15/2012  Success Rules of the Road Part 1
6/13/2012  Talk Fusion - Looking for Team Members
6/13/2012  In Praise of Older Entrepreneurs
6/12/2012  Using LinkedIn to build your list - your brand - your business
6/11/2012  $1 and 30 days - Want an Internet Lifestyle?
6/11/2012  Joint Ventures - Guerilla Style
6/10/2012  Network Marketing - The Leverage Play
6/9/2012  IBOToolbox Lesson - International Inviting
6/8/2012  Labor & Talents - It's a world economy now
6/8/2012  Social Media Sites - Kiltr - Scotland's Facebook
6/7/2012  Social Media Sites - PLURK
6/7/2012  Software as a business model
6/6/2012  The “Secret” Social Network?
6/6/2012  ViralPrint - Growing & Still Free
6/5/2012  Matching Message to Market using the Right Media
6/5/2012  IBOToolbox Lesson - IBOToolbox for Insurance Agents
6/4/2012  The 7 A's of Standing Out by Stepping Down
6/4/2012  Talk Fusion - Multiple Language Video Business Opportunity for $2
6/2/2012  IBOToolbox Lesson - Driving Traffic to IBOToolbox
6/2/2012  Your legal Disclaimers are invalid - Free Internet Marketing Lega
6/1/2012  Hootsuite - Virtual Powertool
6/1/2012  IBOToolbox Lesson - Time to Expand the Pool?
5/31/2012  Local Business Need Your Internet Services
5/30/2012  TalkFusion - Part 2 Custom Video Templates
5/30/2012  The Truth About Making Profit With Private Label Rights Content
5/29/2012  Get your Auto Responses READ - Postcard Marketing Works
5/29/2012  Can I meet you at your office? A Short Lesson on Virtual Offices
5/28/2012  Memorial Day Musing
5/28/2012  Social & Affiliate Site Rankings & Posting for Profit
5/26/2012  I Dare You To Join Me & Triple Your Traffic - Sales & Income - Ev
5/25/2012  TalkFusion - Part 1
5/23/2012  The Fortune IS in the Follow Up
5/21/2012  Your Online Garage Sale
5/19/2012  Get paid to train online?
5/17/2012  Niche Video Site Builder
5/15/2012  LeadNetPro - making a "side business" out of your "Side Business"
5/15/2012  ViralPrint - an overview of the opportunity
5/13/2012  High Performance Academy = Brendon Burchard
5/13/2012  Keyword Research Targets your market
5/12/2012  The lesson of the Bamboo tree
5/12/2012  Get your free copy now - The Charge: Activating the 10 Human Driv
5/11/2012  60 Times more effective than a Web Page?
5/11/2012  US Congress - Let US fix it - we owe it to our kids
5/9/2012  Online Garage Sale?
5/9/2012  Do you need help?
5/8/2012  Strong Future International - SFI an overview of their opportunit
5/5/2012  A brilliant YouTube traffic strategy nobody is talking about...
5/2/2012  A Plan C - I mean a NO Cost alternative
5/2/2012  Optimize your WordPress Sites
5/1/2012  AllSolutionsNetwork - an overview of an amazing online marketing
4/30/2012  A tool kit for Internet Marketing with 17 years worth of material
4/28/2012  A short lesson on Joint Venture Marketing
4/28/2012  Call your clients - often
4/25/2012  Dialing for Dollars - A lesson from the Phone Sales Guru
4/25/2012  The Power of the written word
4/24/2012  The 80/20 rule - Vilfredo Pareto - Prophecy for business
4/24/2012  ViralPrint - the money blog
4/23/2012  skaDoogle - Funny name - Great Affiliate software
4/22/2012  Social Cash - Guerilla Style
4/22/2012  Blueprint Reveals Grim Internet Reality
4/21/2012  Lead Capture for dummies
4/21/2012  Lessons from the 1 Minute Manager
4/19/2012  Do NOT pay outrageous charges for hosting - $4 a month is where w
4/18/2012  Questions - your Jeddi Mind trick to increased sales
4/18/2012  Your "Elevator Talk"
4/17/2012  Watch what you say - Listen to your Self Talk
4/16/2012  IBOToolbox Lesson - Using the URL tool
4/16/2012  Market like your Doctor
4/15/2012  Be a Hero at Church
4/15/2012  The Simple Power of Appreciation
4/14/2012  Calendar Marketing with SendOutCards
4/13/2012  Rapportive - great FREE tool for Gmail users
4/13/2012  Every Business Card you have is an opportunity
4/12/2012  Why an Ex-Con Could Be a Great Hire
4/11/2012  Tips on Voice Broadcasting for business
4/11/2012  Email on steroids
4/10/2012  NLP and Telephone marketing
4/9/2012  Adsense Avoidance?
4/9/2012  A short overview on Google Adwords via Perry Marshall
4/8/2012  Using the telephone effectively
4/8/2012  LeadNetPro - finding targeted Leads for your business
4/7/2012  Hypermail - looking for businesses that email and affiliates that
4/7/2012  DejaVu & The Case for ViralPrint vs VistaPrint
4/6/2012  Google Adwords for newbies
4/5/2012  Niche Video Website Building Platform
4/5/2012  ViralPrint - PreLaunch is open - think "Land Grab"
4/3/2012  Great quality automated SEO - $4.95 one month trial - get your ti
4/3/2012  Move away from the plate!
4/2/2012  $27 software is an amazing Lead Generation value
3/31/2012  IBOToolbox Lesson - Getting the most out of IBO's Virtual Mall
3/30/2012  Free Word Press Plug In Slides your visitors into prospects
3/30/2012  What Every Internet Marketer Needs
3/29/2012  Do you need some help?
3/27/2012  2079 comments on the blog - wow
3/27/2012  Using Google Alerts to Market
3/25/2012  Just the Fax
3/23/2012  Tools for Twitter
3/22/2012  Delegate and Grow
3/22/2012  MLM Lessons from Social Security & my Church
3/21/2012  IBOToolbox Lesson - The Marketing Gem that is IBO
3/20/2012  How to generate Online Traffic
3/19/2012  How to outsource your Internet business to the Philippines
3/18/2012  Because the Stealth Keyword Competition Analyzer is in a class o
3/17/2012  Automate your Twitter and make money
3/16/2012  Use the Link Tracking system the "Big Boys" use
3/15/2012  Send Emails - Make Money
3/15/2012  $168 a day using Pinterest?
3/14/2012  Do you get paid for business cards?
3/13/2012  The 3 Ways to Grow your business
3/10/2012  Lead Generation + Telephone Broadcasting = LeadNetPro