Rangel Tax Hike Fact of the Day #11
Every day, Americans for Tax Reform will release a new fact about Charlie Rangel’s trillion-dollar tax hike. All prior facts of the day can be found on www.atr.org.
Today’s fact is:
“The Rangel Tax Plan Imposes a Guaranteed Tax Hike on Middle Income Families”
The Rangel tax hike plan claims to reduce the burden of taxation for middle income families paying the AMT. It does nothing of the kind.
The Rangel tax hike is a bait-and-switch on these families. Rather than potentially being trapped in the mind-numbing complexity of the AMT, they will be guaranteed to pay a surtax of up to 4.6% on income as low as $150,000.
Imagine you’re playing Russian roulette. You have a one in five chance of losing the game. Your friend says that all this suspense and danger is just too much, so why don’t I just shoot you with a bow and arrow?
The point is, the Rangel tax hike imposes a definite tax increase on millions of American families simply to avoid the potential of having to pay the AMT.