Millions face tax increases under Dem...

Millions face tax increases under Dems budget plan

There are 4 comments on the El Paso Times story from Apr 21, 2010, titled Millions face tax increases under Dems budget plan. In it, El Paso Times reports that:

President Barack Obama's Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the alternative minimum tax.

Join the discussion below, or Read more at El Paso Times.

Gov White for Texas

United States

#1 Apr 21, 2010
Alternative Minimum Tax is for people who make over $ a few million dollars. Some of the millionaires or estates that get passed down in inheritance get homestead excemptions of $750,000 so they get lots of shelters.

The tax system is regressive.

And the tax at different brackets is increased only on the difference from the last income bracket. Basically every one pays the same tax rate but only get charged a small increase ONLY on the increase NOT the entire amount.

http://www.theother49percent.com/
ksuave

Santa Fe, NM

#3 Apr 22, 2010
Why did the headline that I clicked on to get to this story about John McCain's (and other Republicans) lack of principles say that this story was ahbout taxincreases under Obama. Republican partisans once again make claims they can't substantiate. So far more millions have received TX CUTS under back Obama, but the El Paso Times needn't be bothered with the truth. It's not like it's a NEWSpaper for God's sake.
GeorgeBush_Warmo nger

Lewisville, TX

#4 Apr 22, 2010
Juan "War Hero" McCain is a buffoon.

He's acting at the behest of the Neocons who want to destroy the Republic.
Get Over It

El Paso, TX

#6 Apr 22, 2010
Gov White for Texas wrote:
Alternative Minimum Tax is for people who make over $ a few million dollars. Some of the millionaires or estates that get passed down in inheritance get homestead excemptions of $750,000 so they get lots of shelters.
The tax system is regressive.
And the tax at different brackets is increased only on the difference from the last income bracket. Basically every one pays the same tax rate but only get charged a small increase ONLY on the increase NOT the entire amount.
http://www.theother49percent.com/
This is far too difficult for many Republicans to understand. It is easier to just say that the sky is falling and everyone is going to pay higher taxes!

Tha AMT is fixed on an annual basis to protect middle class families from being disproportionately taxed. Of course the current budget might reflect tax increases for some under the AMT...this is because the "fix" hasn't been passed yet. I still give the press credit for a nice headline to give conservatives their morning dose of misguided outrage.

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