Taxes in US, some facts
According to Speedy, taxes in the US as so low compared to Canadian taxes that they are hardly worth mentioning.
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Millions of taxpayers have been left in the dark about just how much they'll owe the IRS this year thanks to indecision in D.C.
That's because they have yet to decide just what they're going to do about the Alternative Minimum Tax (AMT). If they end up doing nothing, those 23 million folks will get hit with the "wealth" tax - about 19 million of them for the first time.
The AMT was originally intended for the wealthy few when it was created nearly 40 years ago. But because Congress never indexed for inflation the amount of income exempt from AMT and because it disallows a lot of popular tax breaks, tens of millions of middle-class taxpayers could get hit.
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