With Tax Break Expired, Middle Class Faces a Greater Burden for 2006 - New York TimesIt's as though Bush were running an IQ test on his voters. So far they're failing.
...The A.M.T. will cost Americans who earn $50,000 to $200,000 nearly $13 billion more next April. That is about how much people who earn more than $1 million will save because of the break on investment income like dividends and capital gains. Both figures were provided by the Tax Policy Center, which is a joint project of the Brookings Institution and the Urban Institute.
Ironically the AMT somewhat resembles the tax reform we need. It removes a lot of exemptions, if it were the only tax our returns would be simpler.
Post a Comment