According to my major bank, this is what's coming our way 1 January 2013 unless Congress acts to change it. Congress hasn't acted to change it first because both houses were Democrat-controlled until 2010, and secondly because each party controls one now, and they rarely agree to pass the other's quesquilia. While Obama flits about the nation talking about how the GOP has it in for you and how he "cut taxes for 95% of Americans" which is hogwash, let's look at the real expected outcomes.
The practical implication of this is that EVERYONE who pays taxes will pay more starting next year. He doesn't care if you're 'middle class'. As far as the Democrats are concerned, you will always have too much money and too much freedom until you have none at all of either.
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