The Specter of Taxmageddon Rises

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From the Heritage Foundation:

On this Halloween, a truly frightening specter is looming.

No amount of garlic, crosses, or exorcists can help us—only Congress and the President can chase this ghoul away.

It’s Taxmageddon.

A horrifying combination of expiring pro-growth tax policies from 2001 and 2003, the end of the once-temporary payroll tax cut, and just a few of Obamacare’s 18 new tax hikes, Taxmageddon will be the largest tax increase EVER to hit Americans. It’s nearly $500 billion in one year, starting January 1. That’s two months away.

The number $500 billion is rather large and abstract, so The Heritage Foundation has broken down the expected tax increases per person just for 2013…

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