Is Bush Actually Raising Your Taxes...

[cuebald]

...while taking credit for tax refunds?

Will you be affected? Most of us will.

Interesting article.
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http://www.washingtonpost.com/wp-dyn/content/article/2007/02/06/AR2007020601529.html

[Captain Worley]

This is a misleading article. First of all, tax cuts and the AMT are two seperate issues. I suspect the AMT will go away in a few years.

Second, the article gives the uninformed reader the impression that the AMT was a Bush invention. It wasn't. It was institued in 1969 to insure that the very rich (100K was a lot of money in 1969) paid at least some taxes. Unfortunately, it was never indexed for inflation.

There have been moves to do away with the AMT, or adjus it for inflation in the past few years. With all the publicity it is getting (and its time really has come to go away, probably should have been done away with when they revamped the tax codes in the 80s), I really do expect it to go soon.

[cuebald]

It makes no difference how you state the pproblem, the answer is the same. To balance an equation, you have to have, well, equal things.

The outgo currently FAR exceeds the income, and the government can't simply print more money to make the bills go away. Without a tax increase, how will we deal with the deficit? If we do not do something with it, our purchasing power on the world stage will drop like a rock until we can't even afford to support China by proxy through WalMart.

[cuebald]

Bush tax cuts don't pay for themselves

From the Seattle Post-Intelligencer

http://seattlepi.nwsource.com/opinion/326303_trahant05.html (http://seattlepi.nwsource.com/opinion/326303_trahant05.html)