THIS POST IS MOSTLY FOR THE BAGGERS

Pres. Obama's budget includes tax breaks for most of us:

Obama Proposes One-Year Extension of Payroll Tax Credit
CQ TODAY MIDDAY UPDATE
Feb. 1, 2010 – 1:32 p.m

Among the major tax provisions in the administration’s fiscal 2011 budget is a one-year extension of the “Making Work Pay” tax credit, which was a critical part of President Obama’s campaign platform and the 2009 stimulus law.

The payroll tax credit is set to lapse at the end of 2010; extending it for a year would cost $61.2 billion.

Obama has touted the tax cut’s breadth, emphasizing at last week’s State of the Union that it helped 95 percent of working families.

Obama also is proposing to make permanent almost all of the tax cuts passed in 2001 and 2003 by Bush, except for those that benefit individuals who make more than $200,000 and married couples who make more than $250,000.