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On August 11, 2012, the GRWF hosted an informal coffee with Republican Congressional candidate Steve Obsitnik. An analysis of the Ernst &Young report comissioned by Congress evaluating the effects of both allowing to expire and  maintaining the Bush tax cuts reveals that the middle class is especially negatively impacted by allowing the cuts to expire. The Alternative Minimum Tax is especially egregious for the middle class family which is struggling to cope with policies that have devalued the dollar, making goods and services more costly.

As reported in US News here, the other taxes looming to take effect in early 2013 will be additional onerous burdens on an already stressed middle class.

The Ernst & Young report concludes that allowing the tax cuts to expire would negatively impact the economic recovery, grinding the growth back down to 0.5% from the current 1.5%.

Click here for the Ernst & Young Report. Click here for the article in the Greenwich Post.

 



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