An article on the mail.com homepage reports that George W today has demanded that Congress send him legislation that keeps middle-class Americans from being hit at tax time next year by the dreaded alternative minimum tax. This even though he has promised to veto the House-passed AMT fix and tax break extender bill.Saturday, November 17, 2007
AMT UPDATE
An article on the mail.com homepage reports that George W today has demanded that Congress send him legislation that keeps middle-class Americans from being hit at tax time next year by the dreaded alternative minimum tax. This even though he has promised to veto the House-passed AMT fix and tax break extender bill.
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2 comments:
I am so fed up with the excuses of all the politicians, Republicans, Democrats and yes even Mr. President, himself. They run off at the mouth and DO NOTHING! George Bush's accountants knew full well the implications of the tax law that cut taxes for everyone over the last few years with the richest getting the biggest cut and the middle class getting robbed in the out years due to the fact that the exemption amounts for married couples filing jointly (as well as the other categories) have not been indexed for inflation.
It's not that complicated to fix it -- just index the exemption amounts to inflation and fight over the rest of the issues another day!
The problem is that the PAYGO policy robs peter to pay paul. You get the AMT break, and pay higher taxes on gas, etc.. I don't see this getting fixed, and I bet it'll cost quiet a few polys their jobs next time aorund.
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