Happy Tax Day—No, Really!  Apr 16, 2012  Tax Day is upon us—and
you should enjoy it. Why? As painful as it may be to write this
year’s check to Uncle Sam, it could be the smallest check you’ll
write for years to come.  That’s because all the tax relief
provisions passed in 2001 and 2003 are set to expire December
31, 2012. Without a single vote by Congress or signature by the
president, federal taxes could rise by $3.8 trillion over a
decade.  Small businesses that pay taxes on their companies’
profits at the individual rate could see their top tax rates
jump from 35% to nearly 40%. Many successful individuals and
small businesses would also help pay for Obamacare through a
Medicare tax hike. Limits on itemized deductions would be
reinstated. Capital gains taxes would rise from 15% to 20%.
Dividend taxes for some taxpayers would surge from 15% to nearly
40%. Estate taxes would rise from a maximum rate of 35% to 55%,
and the exemption threshold would dip from $5 million estates to
$1 million. What’s more, the