fiscal cliff

4

Forget About the Fiscal Cliff, the AMT Will Rob You Blind

http://www.forbes.com

While the nation’s eyes are affixed firmly on the future tax implications of the fiscal cliff negotiations, few people realize that they stand to pay larger tax bills in 2012 courtesy of a little something Congress could have — and should have – taken care of long ago: the exemption to the alternative minimum tax (AMT). As a reminder, the AMT is a parallel tax system that was originally designed in 1969 to guarantee that 155 wealthy, enterprising taxpayers would pay some amount of federal income tax.

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Jking8767's picture
Created by Jking8767 1 year 43 weeks ago – Made popular 1 year 42 weeks ago
Category: Taxes, Fees & Fines   Tags:
3

The Keynesian thought patten, writ large

http://www.nytimes.com

Let’s get one thing straight: America is not facing a fiscal crisis. It is, however, still very much experiencing a job crisis. In fact, of course, it’s just the opposite: The danger is that the deficit will come down too much, too fast. And the reasons that might happen are purely political; we may be about to slash spending and raise taxes not because markets demand it, but because Republicans have been using blackmail as a bargaining strategy, and the president seems ready to call their bluff.

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Jking8767's picture
Created by Jking8767 1 year 45 weeks ago – Made popular 1 year 45 weeks ago
Category: Economics   Tags:

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