Less-Known GOP Tax Plans Could Have Very Big Impact
If you're thinking of dying, don't. At least, not yet. Lurking among the the Republicans' tax overhaul plans is a new incentive to live.</br></br>In fact, largely obscured by the debate over capital gains taxes and budget-balancing plans and other high-visibility items are a substantial number of GOP tax change proposals that would provide important benefits to millions of Americans if they become law.</br></br>Most are expensive, of course, and whether the net benefit to taxpayers would exceed the harm that might be caused by federal spending cuts or deficit increases that would necessarily accompany these changes is unclear.</br></br>These proposals are laid out in a sheaf of bills that the Republican leadership has been circulating in recent weeks. These measures have titles such as the Job Creation and Wage Enhancement Act, the Senior Citizens' Equity Act and the Fiscal Responsibility Act.</br></br>+ Raise the Social Security earnings limit to $30,000 from the current $11,160 and repeal the tax increase enacted last year on better-off Social Security recipients.