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AMT Will Hit Middle Class With Huge Increase!

 
DarthDickheadus:Ameri​canSith
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User ID: 1503533
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11/28/2012 11:21 AM
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AMT Will Hit Middle Class With Huge Increase!
[link to www.thefiscaltimes.com]

No part of the fiscal cliff could body slam the middle class quite like the Alternative Minimum Tax—stamping on average another $1,800 onto to the 1040 forms of 28 million Americans for this year.
The AMT was first introduced 43 years ago to ensure the wealthy couldn’t escape the IRS with write-offs and tax shelters. Maybe this idea sounds like something you’ve heard about recently? President Obama secured reelection by calling for more economic fairness, and multi-billionaire investor Warren Buffett championed a “minimum” tax rate this week in a New York Times op-ed for those making more than a million dollars a year.


Wow, gee, thanks Barry, I guess the welfare hooch that was buying a flat screen at WalMart the other day while paying for her groceries with an EBT card can just have my 1800 bucks.

Last Edited by Mad Scientist (aka AmJedi) on 11/28/2012 11:21 AM
(GLP aka American Jedi)

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Anonymous Coward
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11/28/2012 11:44 AM
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Re: AMT Will Hit Middle Class With Huge Increase!
Be lucky it is just $1,800; my hit is $7,500 because I already pay AMT. I don't even make $250,000. With the exclusion going from $72,000 to $45,000 and a 31% tax rate due to phase out issues on $27,000, decrease we all pay. And because Obama has no leadership skills to bring his side to table, he will lead us over the cliff blame republicans jnstead of fixing it.
Anonymous Coward
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11/28/2012 11:46 AM
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Re: AMT Will Hit Middle Class With Huge Increase!
yep
DarthDickheadus:Ameri​canSith (OP)

User ID: 1503533
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11/28/2012 11:46 AM
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Re: AMT Will Hit Middle Class With Huge Increase!
Be lucky it is just $1,800; my hit is $7,500 because I already pay AMT. I don't even make $250,000. With the exclusion going from $72,000 to $45,000 and a 31% tax rate due to phase out issues on $27,000, decrease we all pay. And because Obama has no leadership skills to bring his side to table, he will lead us over the cliff blame republicans jnstead of fixing it.
 Quoting: Anonymous Coward 27436827


I am sorry, I wasn't clear. I was just using the amount from the article. My annual tax burden just went up 2700 on top of the 13K we pay a year. Well, we pay quarterly.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 20574169
United States
11/28/2012 12:01 PM
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Re: AMT Will Hit Middle Class With Huge Increase!
And because Obama has no leadership skills to bring his side to table, he will lead us over the cliff blame republicans instead of fixing it.
 Quoting: Anonymous Coward 27436827


true.

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