But...but...but...0bama promised no tax hikes on anyone making less than $250,000! He promised us!
Any idiot who believed that and voted accordingly should be taxed to the max. They are too stupid to be allowed to have money.
And this same WaPo and their ilk will lay the blame on President Romney.
The makers of the AMT knew what they were doing. They deliberately didn’t index it to inflation. They knew that it would seize more and more people in its marxist jaws.
They know what inflation is. They have indexed their salary, benefits, and pension to inflation.
The WaPo doesn’t understand the meaning of middle class. No one with an income under $82K is likely to be impacted. That is the start of the top fifth in household income. Nearly all of those impacted will have a household income over $113K, which puts them in the top 10%.
So, the rich are going to be taxed. That’s what they wanted, right?
” Ticking time bomb for the Middle Class... “
Thanks for posting this. Many folks are unaware of it, but they soon will be.
This is what happens when Washington wants the rich to pay their fair share.
That ticking time bomb hits joint filers who make $45,000 or more.
Do your homework and take a look at all the taxes that will have their rates increase plus all the new taxes that are due to kick in on Jan 1.
Also pay attention to the new death tax provision. The exclusion goes from 5 Million to 1 Million with a 55% tax rate for everything over the 1 million. And believe me, the IRS accounts for everything when placing a value on your estate.