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"WHY DOES A SLIGHT TAX INCREASE COST YOU $200 & A SUBSTANTIAL TAX CUT SAVE YOU 30 CENTS?" - Peggy Bracken.

There has been a great deal written & spoken about ... tax cutting proposal now heading towards the president's desk for a certain veto.

The rhetoric on both sides of the political spectrum has been hot & heavy....

In short, there seems to be no room for agreement on either side &, therefore, there will be no compromise & no tax reduction.

However, in the meantime, there has come to light a glitch in the income tax code which could greatly penalize the middle class ...

... it is imperative that both Democrats & Republicans ... come together ... hammer out a deal. Without one, millions of Americans will have to fill out complicated, time-consuming & unnecessary Internal revenue Service forms just to determine whether they should pay regular income taxes or the alternative minimun, ... ATM, which increases their tax burden considerably....

That it is unfair that Americans would have to pay more taxes than necessary because of a snafu in the tax code is unjustified ...

... most Americans are not even aware of what the ATM is. They look at it & think their newspapers made a typo & mixed up the letters for their bank's ATM machine. ...

The tax itself would kick in if adjusted gross incomes are above $45,000 for joint filers or $37,500 for singles.



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