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“In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.”
Taxed enough yet? Getting tired of the government pissing away you money yet?
If that is the case, it should be great in conservative world, considering how much the right wingers whine and cry about them not paying their fair share, instead being leaches to the society?
Well, no, this just affects those already paying federal income tax. The "poor" do not fit in this category. However, the middle class is about to get hit really hard with more being subjected to the AMT.
Well, no, this just affects those already paying federal income tax. The "poor" do not fit in this category. However, the middle class is about to get hit really hard with more being subjected to the AMT.
The middle class will have less to offer the poor in terms of social welfare and charity, so the poor will end up just sucking it. Plus, the middle class will start cooking more at home rather than eating out, and thus driving up prices of groceries with the increased demand, hurting the poor.
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