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The Tax Code Promises--and Taketh Away

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  • investorshelper
    What rankles [taxpayers] are benefits that are portrayed as a tax cut but phase out once income passes a certain level. Phaseouts are mostly designed to curb
    Message 1 of 1 , Mar 20, 2007
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      "What rankles [taxpayers] are benefits that are portrayed as a tax cut
      but phase out once income passes a certain level. Phaseouts are mostly
      designed to curb benefits for upper-income people, but they sometimes
      begin to bite at middle-income levels--a 2006 deduction for student
      loan interest starts to vanish after a single filer's adjusted gross
      income tops $50,000...

      (article continues at) http://snipurl.com/1dkfg

      U.S.News & World Report
      Monday March 19, 2:55 pm ET
      By Leonard Wiener

      -----

      The FairTax, if enacted as a result of citizens' demands, will end the
      complexity and unfairness of an incomprehensible, arbitrary and unfair
      tax code.

      -Ian
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