| Middle class tax relief, tax breaks primarily focused on | | | | small businesses. This is because the dollar nearly two |
| families with lower incomes. To help middle-class | | | | thirds of the tax returns reporting capital gains tax for |
| families and to create employment opportunities for | | | | people with annual incomes less than 50,000 $ from |
| this segment of the population, the U. S. Congress | | | | present. These families own assets, asStocks, bonds, |
| approved and introduced tax incentives to build large | | | | real estate and small businesses, which could be |
| programs. This is millions of middle income households | | | | positively influenced by a lower tax on capital gains.-Irs |
| to help families with children. The hope is that this type | | | | Payment Plan |
| of tax break in order to maintain their farms and | | | | A tax issue, which hits the middle class, is the |
| businesses within the family, rather than being forced | | | | alternative minimum tax (AMT). The AMT, which was |
| to, wouldPay to use the taxes of high status. In a | | | | introduced by the Tax Reform Act of 1969, was |
| sense, this is the government? S act to reward | | | | primarily intended to enjoy a high income taxes for the |
| families who are able to save and build businesses.-Irs | | | | various exemptions under the traditional system of |
| Payment Plan | | | | taxation. However, to adapt to the consequences of |
| The broad-based capital gains tax relief proposed by | | | | the lack of indexing for inflation the AMT has led to a |
| Congress are expected to not only the savings and | | | | penalty taxmiddle-class families who live in areas with |
| economic growth, but also to reduce taxes to promote | | | | high living costs. |