Backdoor Taxes to Hit Middle Class

Reuters:  “The Obama administration’s plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.  In the 2010 budget tabled by President Barack Obama on Monday, the White House wants to let billions of dollars in tax breaks expire by the end of the year — effectively a tax hike by stealth. . . . Millions of middle-class households already may be facing higher taxes in 2010 because Congress has failed to extend tax breaks that expired on January 1.”

Update on why the above link to a Reuters story no longer works: Presidential censorship – we should all be very worried when government can suppress the media.  “Obama administration aides appealed to the Reuters White House reporting team to kill a story by another reporter of the news service that suggested the president’s new budget blueprint included “backdoor” tax hikes.  A White House official told TPMDC the Reuters story was “falsely stating that the President’s budget raises taxes for middle class families, when in fact the opposite is true.”  The official said when the administration saw the story, published yesterday afternoon, they contacted one of the Reuters White House correspondents.”  See also “Reality Check on Taxes.”