Didn't The Daily Show or Huffington give you news lately...???
Tax rates on ordinary income currently range from 10 percent to 33 percent. These rates are an extension of the so-called Bush-era tax cuts that were scheduled to expire at the end of 2010, but were extended for two more years. If these relatively low rates are allowed to expire at the end of 2012—which many believe is likely—increases will occur across the board, with a top ordinary income rate as high as 39.6 percent.
Even greater increases might be in store for investors and people with income from capital gains and qualified dividends. Unless Congress takes action, the long-term capital gains rate will jump from 15 percent to 20 percent and the qualified dividends rate could more than double, increasing from 15 percent to a whopping 39.6 percent.
If the U.S. Supreme Court deems the health care reform law constitutional, the Medicare surtax will kick in at a modified gross income of $200,000 for singles and $250,000 for married couples in 2013. The surtax of 3.8 percent will be imposed on the lesser of net investment income and income in excess of the thresholds.
http://www.constructionexec.com/Issues/May_2012/Special_Section2.aspx
Higher taxes = fewer jobs ............ believe it.