Reply from Congressman Emanuel Cleaver concerning OrphanWorksActof 2008

[Hal Duston]

On Tue, Aug 12, 2008 at 06:29:10PM -0500, Geoffrion, Ron P [IT] wrote:
> > Of course if my net income drops by over $500/month due to the tax
> > increased caused by the expiration of the tax cuts in 2010, I could
> > be forced to move into something cheaper.
> 
> LOL - you need to earn $200,000 minumum to have that much impact
> on the expiration of income tax cuts passed by Bush.  So unless
> you spend a lot of money on software, you'll do fine.
> 
> http://www.taxfoundation.org/research/show/22424.html
> 
> Thanks,
> 
> Ron Geoffrion
> 913.488.7664

After the tax cuts expire, the child tax credit will be reduced
from $1000 to $500 per child.  That increases my tax liabilty by
$2500.  I will also move from the 10 percent tax bracket into the
15 percent tax bracket which is in itself a 50% tax increase.  My
standard deduction will also return to the previous
pre-marriage-penalty amount.  It is a significant tax increase for me.

http://www.taxfoundation.org/research/show/134.html

Note that I am the head of a family of seven, not a family of four.

Thanks,
--
Hal