Up, up, and away!

Wall Street Journal: Starting on January 1, your tax bill just went UP! Some 25 million middle class Americans now face the alternative minimum tax (AMT), the tax that was originally intended to apply to the few dozen richest taxpayers (actually rich people who were not paying any taxes at all). The AMT will hit families making as little as $75,000. The new homebuyer tax credit just went away. So did the tax deduction for state and local taxes. You also no longer get a federal tax deduction for college tuition and fees if you have a kid in college. There's more bad news.