The president has been clear all along that families earning up to $400,000 would not be the target of the tax hike, but it was unclear whether there would be a lower income threshold for individual filers.
Last week, White House press secretary Jen Psaki told FOX Business’ Blake Burman that the threshold would also be $400,000 for individual filers.
Psaki gave the same answer when asked for clarification by a reporter on Monday.
Individuals who earn a lesser amount could be affected, however, if they are part of a couple filing jointly that reports a cumulative income of $400,000 or more. That means some individuals may wind up being hit with the tax hike because they are filing jointly – whereas, if they filed as individually, they would not be above the specified threshold. Read more…..
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The best way to protect against economic turbulence is with hard assets like precious metals and real estate, but even these are under threat from the government, former Congressman and host of The Liberty Report, Ron Paul, tells Michelle Makori.