|Sen. Orrin Hatch (R-UT), 2008|
In just over five months, middle-class families, job creators and seniors will get hit with a massive tax hike unless the President and Congress act.
This would mean that taxes would go up on virtually every single taxpaying American.
The Alternative Minimum Tax—designed decades ago to ensure that 154 wealthy Americans paid some income taxes—would then hit 27 million Americans with a $92 billion tax hike next year alone.
Now, what would this cost you?
A family of four earning $50,000 a year would see a $2,200 tax hike.
If you're a single mother with a $36,000 a year paycheck, you’d pay $1,100 more to the government.
A married couple over 65 with $40,000 in income would see their tax bill double.
And just under one million small businesses, who are trying to lead our economic recovery, would be hit with as much as a 17 percent tax hike. Think about that—one million job creators with less to invest and create jobs.
This just doesn’t make sense.
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