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23 Million Americans Have Had Their Taxes Increased an Average of $3,900 This Year–But May Not Know It Yet

Posted By admin On October 5, 2010 @ 11:32 am In U.S. News | Comments Disabled

CNS News [1]
Tuesday, October 5, 2010

(CNSNews.com) - Almost 23 million American households have already had their federal taxes raised by an average of $3,900 this year–but may not know it yet.

They could get a big surprise when they prepare their tax returns next year.

Among those subject to this already-in-place tax increase are some families making less than $50,000 per year, and virtually all married couples earning between $100,000 per year and $500,000 per year, according to data published [2] by the Congressional Budget Office.

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23 Million Americans Have Had Their Taxes Increased an Average of $3,900 This Year  But May Not Know It Yet 140410banner4 [3]

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD) [4]

This is despite the fact that President Barack Obama has promised not to increase taxes on any individual earning less than $200,00 per year or on any household earning less than $250,000.

This tax increase on almost 23 million people is already in place because a temporary reprieve for many middle-class taxpayers from the Alternative Minimum Tax that Congress passed last year expired on Dec. 31, 2009 and has not been in effect for 2010.

According to the CBO [2], an estimated 4.5 million American households were subjected to the AMT in 2009, and 27.2 million are now liable to pay the AMT for this year unless Congress acts to lift the tax before Dec. 31. That means that under current law at least 22.7 million American households that did not have to pay the AMT last year will have to pay it on the income they have been earning since Jan. 1 of this year.

Full story here. [1]


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URLs in this post:

[1] CNS News: http://www.cnsnews.com/news/article/millions-middle-class-americans-may-soon

[2] data published: http://www.cnsnews.com/sites/default/files/documents/CBO-ALTERNATIVE%20MINIMUM%20TAX%20REPORT.pdf

[3] Image: http://infowars-shop.stores.yahoo.net/post4rioffe.html

[4] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[5] Middle Class–Not the Rich or the Poor–Pay Majority of Federal Taxes, Says CBO Data: http://www.prisonplanet.com/middle-class-not-the-rich-or-the-poor-pay-majority-of-federal-taxes-says-cbo-data.html

[6] Americans On Foodstamps Hits New Record In August, Increase By Over Half A Million To 42.4 Million, 17% Increase Year Over Year: http://www.prisonplanet.com/americans-on-foodstamps-hits-new-record-in-august-increase-by-over-half-a-million-to-42-4-million-17-increase-year-over-year.html

[7] Bankers Prepare To Assault Americans With VAT, Transaction Taxes: http://www.prisonplanet.com/bankers-prepare-to-assault-americans-with-vat-transaction-taxes.html

[8] Average American Works 231 Days To Support Government With Taxes: http://www.prisonplanet.com/average-american-works-231-days-to-support-government-with-taxes.html

[9] 1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus: http://www.prisonplanet.com/1-9-million-fewer-americans-have-jobs-today-than-when-obama-signed-stimulus.html

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