Calculate the impact of an Obama tax hike on your income taxes

[HappyTexan]

Originally Posted by Smash255

So the difference you would pay if this bill is blocked compared to if it passed would be $2,665.

Yeah. I get hit with AMT off and on. It never really comes out to much more but the paperwork is horrendous.

It's the Bush cuts that affect me more..not the AMT.
But if the AMT is not patched it will pull in more people at lower income levels..$75K is what I heard on the radio this morning.

AMT was never meant to hit that income level. And it's never gotten a permanent fix..just last minute patches year after year, then skip a year, then patch due to outrage, .....

And no, I'm not rich. I don't own factories over in China. I don't employ offshore help. I don't even own my own business.
Just a code monkey in the corporate world trying to hang on to a job to save for retirement in a few years.

[Smash255]

Originally Posted by HappyTexan

Yeah. I get hit with AMT off and on. It never really comes out to much more but the paperwork is horrendous.

It's the Bush cuts that affect me more..not the AMT.
But if the AMT is not patched it will pull in more people at lower income levels..$75K is what I heard on the radio this morning.

AMT was never meant to hit that income level. And it's never gotten a permanent fix..just last minute patches year after year, then skip a year, then patch due to outrage, .....

And no, I'm not rich. I don't own factories over in China. I don't employ offshore help. I don't even own my own business.
Just a code monkey in the corporate world trying to hang on to a job to save for retirement in a few years.

Well as I said the bill passed the House, it has more than 50 votes in the Senate. The question is whether or not an up or down vote will be allowed to happen.

[Annie53]

Originally Posted by HappyTexan

Until it's cooked..the AMT is not yet patched so I checked "no patch".
Congress only has 10 more days in session from what I heard on the radio today. Any bill pending when it ends..dies.

Meanwhile I see Congress is busy working on making sure commercials aren't louder than the TV show

I have to admit it.............I am all for doing away with loud commercials.......I wish they would hurry up already and get it done.