Replies to post #196120 on Tornado Alley (PROG)

[StephanieVanbryce]

Is this not true now?



President Obama has endorsed a tax deal that would give individuals up to $400,000 an extension of the Bush tax cuts. The plan would also reportedly allow the rich to keep a lower estate tax than is currently planned for 2013 (55% for estates worth more than $1 million). This is a tax cut for many rich Americans.

Because the payroll tax cut is expiring and the Make Work Pay tax cut is not coming back, most working Americans will also see a tax increase. The most galling thing is that 98 percent of Americans will actually see a larger tax increase than some of the richest Americans. Working with our friends at the Center for Economic and Policy Research, we compiled the following chart to demonstrate this:

http://boldprogressives.org/under-obamas-tax-plan-middle-class-will-get-higher-tax-increases-than-some-rich/

printed on the 31st.

[DesertDrifter]

i remember seeing some talking head blathering on about the Alternative Minimum Tax was going to be ended or something like that as part of the bill, but that was a few days ago when i quit paying attention.