Obama poised to raise taxes on everyone that pays Federal Income Taxes

Backdoor taxes to hit middle class: If the provisions are allowed to expire on December 31, the top-tier personal income tax rate will rise to 39.6 percent from 35 percent. But lower-income families will pay more as well: the 25 percent tax bracket will revert back to 28 percent; the 28 percent bracket will increase to 31 percent; and the 33 percent bracket will increase to 36 percent. The special 10 percent bracket is eliminated. I'm no tax guru but I'm pretty sure this covers everyone that pays Federal Income Taxes. No limit to the magical $250,000 cut-off here. Which begs the next question: how do you expect job creation by small businesses if the lion's share of these business owners are these awful, rich $250,000-aires and up? UPDATE: The story has since been retracted after the Whitehouse released a memo stating that all incomes under $250,000 won't be affected. So the tax cuts will stay in effect. However, the CBO's projected 2010+ deficit assumes those tax cuts will expire in their entirety. Thus, the actual deficits after 2011 will be higher than projected now.