On this Thanksgiving day, I am most thankful for what I know and to realize how much I don't know. Here is something you might want to know. Congress is proposing a surtax of 1% on all taxable income to fund the war in Afghanistan. And under the proposal, this percentage could increase if the president thinks it's necessary to fund the war. Basically, this is an open checkbook for the government to spend whatever it wants to on the war. AND IT'S YOUR CHECKBOOK!!!
The only people who don't have to pay this tax is those with taxable income of less that $30,000. Everybody else pays it. And, you cannot offset it with credits - not even the alternative minimum tax credit.
Just thought you would like to know what Congress is doing with your hard earned money.
Happy Thanksgiving.
Tom
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Posted on March 22, 2010 04:05