Reply #12: Not really.

[pnwmom]

For people at the low end of the tax range, without President Obama's bill, overall income taxes would be rising by 50% -- from 10% now to the 15% rate we had in 2001.

What you are referring to is the end of the one-year stimulus called "Make America Work" which is being replaced by the Social Security rate cut. So comparing next year to this year, you will have paid more taxes. But that doesn't account for the increase in the lowest income tax rate, since that 10% rate was set to expire at the end of 2010. Without the new bill, you would have ended up paying 50% more on the same income than you would have paid in 2001. So, yes, you will be be paying somewhat more next year than this year because "Make America Work" expired on schedule. But overall you'd be paying much MORE if the 2001 law was allowed to expire and your rate returned to 15%.