real6
02-02-2010, 08:41 PM
Backdoor taxes to hit middle class
http://search.yahoo.com/404handler?src=news&fr=404_news&ref=http%3A%2F%2Fsearch.yahoo.com%2F404handler%3Fs rc%3Dnews%26amp%3Bfr%3D404_news%26amp%3Bref%3Dhttp %253A%252F%252Fwww.prisonplanet.com%252Fbackdoor-taxes-to-hit-middle-class.html%26amp%3Burl%3Dhttp%253A%252F%252Fnews.y ahoo.com%252Fs%252Fnm%252F20100201%252Fbs_nm%252Fu s_budget_backdoortaxes&url=http%3A%2F%2Fnews.yahoo.com%2Fs%2Fnm%2F2010020 1%2Fbs_nm%2Fus_budget_backdoortaxes
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.
The targeted tax provisions were enacted under the Bush administration’s Economic Growth and Tax Relief Reconciliation Act of 2001. Among other things, the law lowered individual tax rates, slashed taxes on capital gains and dividends, and steadily scaled back the estate tax to zero in 2010.
http://news.yahoo.com/s/nm/20100202/bs_nm/us_budget_backdoortaxes
The story Backdoor taxes to hit middle class has been withdrawn. A replacement story will run later in the week.
http://search.yahoo.com/404handler?src=news&fr=404_news&ref=http%3A%2F%2Fsearch.yahoo.com%2F404handler%3Fs rc%3Dnews%26amp%3Bfr%3D404_news%26amp%3Bref%3Dhttp %253A%252F%252Fwww.prisonplanet.com%252Fbackdoor-taxes-to-hit-middle-class.html%26amp%3Burl%3Dhttp%253A%252F%252Fnews.y ahoo.com%252Fs%252Fnm%252F20100201%252Fbs_nm%252Fu s_budget_backdoortaxes&url=http%3A%2F%2Fnews.yahoo.com%2Fs%2Fnm%2F2010020 1%2Fbs_nm%2Fus_budget_backdoortaxes
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.
The targeted tax provisions were enacted under the Bush administration’s Economic Growth and Tax Relief Reconciliation Act of 2001. Among other things, the law lowered individual tax rates, slashed taxes on capital gains and dividends, and steadily scaled back the estate tax to zero in 2010.
http://news.yahoo.com/s/nm/20100202/bs_nm/us_budget_backdoortaxes
The story Backdoor taxes to hit middle class has been withdrawn. A replacement story will run later in the week.