"Plan to Ease Middle-Class Taxes Falters"

[GreenPartyVoter]

WASHINGTON (AP) - House Democrats' promise to permanently protect millions of middle-class families from a mostly unknown tax increase is faltering before it's even unveiled.

Senate Democrats are pressing a Band-Aid approach to delay for just a year or two the alternative minimum tax, or AMT, from adding $2,000 more in taxes on average to families with incomes between $100,000 and $200,000 a year.

That way Democrats wouldn't have to go into next year's election after having tried, and probably failed, to raise income taxes on wealthy taxpayers - those making $500,000 or more - back to almost what they were before President Bush took office.

New York Rep. Charles Rangel, chairman of the tax-writing House Ways and Means Committee, would like to rewrite the AMT to once-and-for-all prevent it from ensnaring about 20 million additional and unsuspecting middle-class taxpayers. He and Rep. Richard Neal, D-Mass., had planned to unveil their plan in May but now that's not likely to occur before September, if then.

http://apnews1.iwon.com/article/20070710/D8QA1GFG0.html

[AndyA]

1. Well why in the hell would they want to give ordinary Americans a break?

After all, we've been pissed on, crapped on, and abused under the GOP dictatorship for over 6 years, why change anything? Only the little people pay taxes, right? Leona Helmsley was brave enough to say so.

It would be so nice to have a Congress that actually worked FOR the people for a change, instead of AGAINST the people. Every one of the bums should be voted out and replaced, it's the only way we'll ever get our country back.

[jedicord]

2. And all this time I thought I was in the middle class.

Guess it's lower middle class, 'cause we don't earn $100,000.

$200,000 is considered middle class?

Beside that point, the AMT for these people is unfair considering those with incomes over $200,000 have very many more opportunities for deductions. And I love how it's phrased as a "tax increase". That should get some people to notice.

[madrchsod]

3. 100,000 middle class?

i guess i`m at poverty level.

[Matsubara]

4. Households of $100K income and up represent about the top 10% of US earners

It is NOT "middle class". I've always felt that "middle class" should not mean "halfway between what the rich make and what a minimum wager earner makes", but it should refer to what MOST PEOPLE make, giver or take $20K per year.


To me, (depending on marital status and number of kids), "middle class" is from about $25K per year to about $90K per year. The range affected by the AMT are upper middle-class/petit bourgeouisie. But there are a lot more of them than there are super-rich folks, so they are a formidable electoral bloc.