If you're planning on dying anytime soon, tax advisers say it would be best to do it before Jan. 1.

The so-called "death tax" returns with a vengeance next year, bringing a 55 percent top tax rate on estates valued at more than $1 million. That compares to the current rate of 0 percent on estates up to $3.5 million.

Such news might equal a near-death experience for some taxpayers. But there's more ... much more. In addition to reviving the death tax, the federal government is making these changes for 2011:

• Personal income tax rates will rise. The top income tax rate will jump from 35 to 39.6 percent (this is also the rate at which two-thirds of small-business profits are taxed).  The lowest rate will rise from 10 to 15 percent.
• Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income.  The child tax credit will be cut in half from $1,000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.
• Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

These higher rates and reduced deductions are among dozens of alterations that Americans for Tax Reform calls "the biggest tax hikes in U.S. history." The anti-tax group did not offer an aggregate dollar amount.

While Democratic lawmakers and the Obama administration say more tax revenues are needed to balance the books, supply-side economists and conservative thinkers say the collective impact amounts to a job killer that will prolong or worsen the nation's economic recovery.

"The federal government’s untimely money grab will weaken the private economy in the midst of a recession. Small businesses, which historically have generated most of the new jobs in America’s private sector, are especially vulnerable -- not only to the higher taxes, but also to the costs associated with an approaching blizzard of additional paperwork," said Robert Sanchez, policy director for the Tallahassee-based James Madison Institute.

Florida TaxWatch president Dominic Calabro said the stakes are as high for Florida as any state in the nation.

"As John Kennedy said, 'When the country gets a cold, Florida gets pneumonia,'" Calabro related.

Sanchez agreed, saying, "Florida, with its large number of retirees who rely on savings, investments, and the future sustainability of Social Security and Medicare, is especially vulnerable to these changes, which could turn a recession into something far more serious."

At least one of Florida's U.S. Senate candidates vows to stop the tax-and-spend train at the Capitol.

“My promise to Floridians is that I will not support any tax increases in the U.S. Senate," said Republican Marco Rubio, who signed the ATR's "No Tax Pledge" last year.

Senate hopefuls -- independent Gov. Charlie Crist and Democrats Jeff Greene and Rep. Kendrick Meek -- did not respond to inquiries from Sunshine State News.

Meantime, the U.S. debt continues to set records. Some $1.4 trillion is expected to be added this year, pushing the total past $14 trillion -- roughly the nation's annual economic output.

"The fact is, no one's trying to cut spending," Calabro said. "(Spending) is exactly the wrong approach. You can't spend your way out of this."

Sanchez noted, "The recent July 4 celebration was a timely reminder that America’s quest for independence essentially began as a tax revolt. Now the insatiable appetite of government at all levels --  federal, state, and local -- is threatening to deprive our nation’s most productive citizens of an inordinate share of the fruits of their labor."