The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.

Thursday, August 2, 2012

Taxmageddon, the Bush Tax Cuts, the Middle Class and the AMT

The House of Representatives passed an extension of the Bush tax cuts and it will meet stiff opposition in the Democrat controlled Senate. The Democrats have defined the Bush tax cuts as exclusively being tax cuts for the rich or the 1%. It's simply not true. Because of inflation, the Alternative Minimum Tax (AMT), was created to close tax loopholes for high income earners. However, the AMT has ensnared millions of middle class taxpayers into its orbit.
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Judy Morris,
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