"Millions of middle-class households already may be facing higher taxes in 2010 because Congress has failed to extend tax breaks that expired on January 1, most notably a "patch" that limited the impact of the alternative minimum tax...Middle-class families also will find fewer tax breaks available to them in 2010 if other popular tax provisions are allowed to expire."
Asked by Anonymous at 12:19 PM on Feb. 2, 2010 in Politics & Current Events
Answer by Christina2135 at 12:24 PM on Feb. 2, 2010
Answer by grlygrlz2 at 12:25 PM on Feb. 2, 2010
Answer by mancosmomma at 12:39 PM on Feb. 2, 2010
They were always set to expire, they were temporary tax cuts. Do you know what the term temporary means?
How did the last admin. make up for the shortfall in the budget after enacting this temporary tax cut?
Answer by Anonymous at 12:43 PM on Feb. 2, 2010
Answer by kenzie07 at 12:45 PM on Feb. 2, 2010
Answer by waldorfmom at 12:47 PM on Feb. 2, 2010
Answer by yourspecialkid at 12:51 PM on Feb. 2, 2010
Answer by Anonymous at 1:19 PM on Feb. 2, 2010
Answer by NotPanicking at 1:38 PM on Feb. 2, 2010
Do you actually pay a 1/4 in federal income tax. or are you in the 25% tax bracket after exemptions etc? I doubt you know what you are talking about. My family has consistently paid 10-11% in income tax. That doesn't include Social Security or state. And we are in the bracket for 28% most of the time. But they don't tax the first lump that is excluded and then the lower tax brackets cover the next amount and on up. It seems ridiculous to me to fill out all that paper work to end up paying 10% in the end. How about if we all just pay 10% of gross and get on with it! (If you add up the state, fed and SSI it probably does come to 25% and if you add in property tax and sales tax I think it is closer to 30%.)
Answer by Anonymous at 2:13 PM on Feb. 2, 2010