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I know we are in for a whole new range of taxes to pay for all these entitlement programs the Democratically controlled Congress/White House have planned in order to pay for new entitlement programs.
If they say they entitlement programs are "deficit" neutral, why aren't these entitlement program indexed for inflation (remember AMT? 1969 tax for "super wealthy" clients). Well the AMT was never indexed for inflation and millions of the middle class living in high state income tax/property tax states like NJ, MD, Washington DC, NY get hit with these unfair taxes.
Same thing is going to happen to the proposed 500K and up 5.4 "surtax" or the 200K and up medicare tax.
But the government usually adjusts entitlement program distributions such as Socail Security as "cost of living adjustments"
Why?
I'm very concerned. Rapid inflation is just around the corner. $200K in 10-15 years will not mean much and the middle class will get hit will these taxes.
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