Tax Cuts for Some, but AMT for All

President Obama came out this week in support of making the Bush tax rate cuts permanent for those making $250,000 or less.

Good move, and let’s see what happens in Congress with this hot potato.

Is anyone talking about Alternative Minimum Tax (AMT)? No.

The AMT is scheduled to sunset too, and the Congressional Budget Office estimates the number of people this affects will jump from 4.5 million taxpayers to 27 million in 2011.

Click on these links to see a few tax cut articles.

 About Those Tax Increases for the “Rich”

Finally, Some Pragmatism from Obama

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