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Posted on 02/02/2010 10:25:44 AM PST by GVnana
NEW YORK (Reuters.com) --The Obama administration's plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.
In the 2010 budget tabled by President Barack Obama on Monday, the White House wants to let billions of dollars in tax breaks expire by the end of the year -- effectively a tax hike by stealth.
While the administration is focusing its proposal on eliminating tax breaks for individuals who earn $250,000 a year or more, middle-class families will face a slew of these backdoor increases.
(Excerpt) Read more at ca.news.yahoo.com ...
**REUTERS: Backdoor taxes to hit middle class...
**REUTERS pulls tax story...
Rahm no like the lead?
This text found on Yahoo Canada.
I blame Bwaney Fwank.
Bwame
Drudge headline:**REUTERS: Backdoor taxes to hit middle class...
**REUTERS pulls tax story...Rahm no like the lead?
This text found on Yahoo Canada.
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