What will 2011 taxes be?

I found a great website, just for fun, by way of Kay Bell at  Don't Mess with Taxes.  Brought to you by the Tax Foundation, MyTaxBurden.org lets you calculate your 2011 taxes under 3 "what-ifs":

1. Bush tax cuts are all extended
2. Bush tax cuts expire and we go back to old law
3. Obama's budget proposal is passed (to include extending some of the Bush cuts but not all and adding new tax cuts, credits and tax increases)

Follow the directions by filling in the left hand column and then click "caculate".  What fun!

My family is better off under Obama's proposal for 2011 based on my best guess, but who knows what the future will bring, both in the way of tax law and my family income?  The first  is up to Congress and the second up to me and my efforts.

Congress will need to act soon to get something passed.  It will be in summer recess soon, then Representatives will be campaigning for re-election along with some Senators.  It is possible to enact major tax legislation in an election year, but the likelihood goes down.

We won't talk about my efforts to raise my family's tax burden.

So plan for the Bush tax cuts to expire as originally enacted at the beginning of the decade and be glad if they don't.