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Blame Bush for Democrat Policy Errors
by Dick McDonald
Originally posted to BNN 3/13/2005
The blame Bush bums at the New York Slime are blaming Bush for overseeing the largest increase in middle-class taxes ever imposed. Conveniently they omit (part of their LDO Policy at the Slime) that a Democrat Congress forced this on the taxpayers in the early 60s. The Alternative Minimum Tax (AMT) was enacted to force taxpayers, who were availing themselves of socially directed and legally acceptable deductions, to pay a 20% income tax surcharge for the privilege of using those deductions. It has played havoc with tax planning ever since.
But when the tax was imposed, people made a lot less. As income rose, many rose right into AMT hell. If what they say is true, One Million paid AMT in 2000, Three million in 2005 and Thirty million in 2010. Well let's do something about it. Tax shelters have been eliminated through other parts of the law, we no longer need the AMT except to recoup a part of the cuts Bush enacted into law: I know the Slime would endorse that. I don't and hope you don't. Let's get rid of AMT.
Dick McDonald blogs at The Right Scale.
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