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Broke the Koch Brothers' Takeover of America
What You Should Know / February 2, 2010 -- A February 1 Reuters article - subsequently withdrawn by the wire service -- claimed that the Obama administration's budget plan includes "backdoor tax increases that will result in a bigger tax bill for middle-class families," citing increases to marginal federal income tax rates that would go into effect if the Bush tax cuts were allowed to expire, and an increase in middle class families that would be subject to the Alternative Minimum Tax (AMT) without the renewal of a patch to limit its impact. In fact, Obama's 2011 budget calls for the Bush tax cuts to be extended for individuals making $200,000 or less and couples making $250,000 and for the AMT patch to be extended at its 2009 parameters through 2020.

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