Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 53 Share on Twitter Printer Friendly Page More Sharing
Best Web OpEds    H3'ed 2/28/20

Potential Democrat's Silver Bullet against Trump's GOP to keep the House and Expand the Senate

Author 39565
Follow Me on Twitter     Message Hugh Campbell
Become a Fan
  (3 fans)

To wipe-out the largest segment of Trump tax liability, the GOP 2017 Tax Cut & Jobs Act raised the Federal Income Tax (FIT) thresholds of the Alternative Minimum Tax (AMT); criticized for not being inflation-indexed. Reducing the number of AMT taxpayers by over 95% in 2018.


(Image by FIGuide)   Details   DMCA

Also, not indexed to inflation since 1983 are the FIT thresholds for taxing Social benefits, which originally affected 10% of recipients but now over 50%. H.R. 860, sponsored by Rep. John Larson (CT-1) and cosponsored by 208 in the House proposes to raise the threshold to $100K & $50k for joint & separate returns.

This legislation would affect tens of millions voters accross all 50 states and if passed by the U.S. House prior to the 2020 election would reflect badly only the GOP House members that vote against it as well as those in the Senate refusing to cosponsor it.

Read the rest of the story HERE:

At www.msn.com

 

Rate It | View Ratings

Hugh Campbell Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Comments

The time limit for entering new comments on this quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

No comments