Congress lets 50 tax breaks expire at end of ’09

[babsbunny]

Many likely to be revived sometime in 2010 — but it’s a pain for taxpayers

http://www.msnbc.msn.com/id/34588239/ns/business-forbescom

By Ashlea Ebeling

updated 9:03 a.m. ET, Thurs., Dec . 31, 2009
When members of the U.S. Senate went home earlier this month, they left the future of 50 individual and business tax breaks in limbo. All expire at the end of 2009.

Among the disappearing breaks are the research tax credit and an annual alternative minimum tax "patch," which keeps 23 million additional middle-income Americans from being forced into calculating and paying the dreaded AMT. (For 2009, with the patch in place, 4 million upper-middle- and high-income families will pay AMT.)

[FreakinDJ]

1. Great same fiasco as last year with AMT

[LouKneeLib]

2. LOL.

More of the same, theft from the masses. "I will not raise taxes on anyone making less than 250,000$" In fairness, Obama didn't mention anything about tax policies expiring without a Congressional vote. Billions for banks.........and....

[eilen]

3. Thanks to the fiscal policies of the last 20 years

my family is in no danger of falling into the ATM bracket.

[zbdent]

4. as I recall, one of the "tax breaks" set to expire was a tax rate set

at a point where Rush Limbaugh made the claim that nobody was "earning" that little ... so it was a cosmetic break, if that ... to receive that tax break, you would have had to be working "minimum wage", something that Rush Limbaugh claimed quite often that nobody was earning ...