Does the AMT tax affect the middle class?

Question

I have heard John McCain say that as president he would eliminate the AMT tax to lower taxes for the middle class. What is the AMT tax? Would this help the middle class? Why doesnt Obama want to do this?

Answer 1

Because Obama is going to HIKE taxes, so vote Republican! Apparently, Obama feels those who are successful should pay more instead of their fair share. It's his way of penalizing those who have *earned* more, and allowing those who have not *earned* more, to keep more, real fair, huh? Everyone should pay the same % of their income. If that’s 10%, whether you make 100k or 1 Mio, 10% is just that, 10%. There is no reason that the wealthy should pay MORE of their hard earned money, just because they have more. They should only have to pay the same % everyone else does. By default, they are paying more anyway because their incomes are higher.

Here is the answer to your AMT question:

http://answers.yahoo.com/question/index?...

Answer 2

All taxes affect the middle class, wether directly or indirectly(the true "trickle-down theory"). Any fees or taxes will trickle down to the consumer, guess who we are. Politicians and their faithful supporters will always say it's on the rich and not on the poor(or middle-class), and that removing any tax is hurting the poor and giving money to the rich. Are congressmen(and women) still tax exempt? Why?

Accounts Receivable Tax

       Building Permit Tax

       CDL license Tax

       Cigarette Tax

       Corporate Income Tax

       Dog License Tax

       Excise Taxes

       Federal Income Tax

       Federal Unemployment Tax (FUTA)

       Fishing License Tax

       Food License Tax

       Fuel Permit Tax

       Gasoline Tax (42 cents per gallon)

       Gross Receipts Tax

       Hunting License Tax

       Inheritance Tax

       Inventory Tax

       IRS Interest Charges IRS Penalties (tax on top of tax)

       Liquor Tax

       Luxury Taxes

       Marriage License Tax

       Medicare Tax

       Personal Property Tax

       Property Tax

       Real Estate Tax

       Service Charge Tax

       Social Security Tax

       Road Usage Tax

       Sales Tax

       Recreational Vehicle Tax

       School Tax

       State Income Tax

       State Unemployment Tax (SUTA)

       Telephone Federal Excise Tax

       Telephone Federal Universal Service Fee Tax

       Telephone Federal, State and Local Surcharge Taxes

       Telephone Minimum Usage Surcharge Tax

       Telephone Recurring and Non-recurring Charges Tax

        Telephone State and Local Tax

       Telephone Usage Charge Tax

       Utility Taxes

       Vehicle License Registration Tax

       Vehicle Sales Tax

       Watercraft Registration Tax

       Well Permit Tax

       Workers Compensation Tax

      

FUNNY?

      

       Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom could stay home to raise the kids.