Friday, February 03, 2006
Hitch In Tax Code Hurting Many Seniors
A few weeks ago, I wrote about efforts in Congress to adjust the alternative minimum tax for inflation to keep that levy, originally intended for millionaires, from hitting middle-income taxpayers. There's another large group of taxpayers getting slammed by inflation: seniors.
The tax on Social Security income has not been adjusted for inflation since it was enacted 23 years ago. But unlike the alternative minimum tax, which has caused an uproar because it has started to affect those earning less than $100,000, this hitch in the tax code is getting almost no attention.
Hitch In Tax Code Hurting Many Seniors
Source: Hartford Courant
The tax on Social Security income has not been adjusted for inflation since it was enacted 23 years ago. But unlike the alternative minimum tax, which has caused an uproar because it has started to affect those earning less than $100,000, this hitch in the tax code is getting almost no attention.
Hitch In Tax Code Hurting Many Seniors
Source: Hartford Courant
Permalink posted by armandn @ 7:30 AM 
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