Thank you voters! Thank you Congress!
- A tip o'ther hat to you Diebold!
One of the worst 'taxes' ever devised is the AMT.
- Sure, like every other bit of political chicanery it was 'sold' as a way to make the 'rich' pay their fair share. The reality has been that the way it was constructed shafts the middle class instead. I bet you're 'surprised' aren't you?
When not improving American's lives by outlawing Edison's incandescent light bulb, the dimwits in Congress granted a one-year exemption to the AMT in 2011...BUT devious politicians that they are, if the AMT isn't 'fixed' again in 2012 it will go mainstream.
Figure the odds that American underworked-and-overpaid Congresscritters will manage to find the time to fix this AMT thing in time (some are already crowing that they don't need to 'do' anything and they will get more tax revenue from the AMT).
- One of the rare cases where not doing anything would be undesireable from a constituent's viewpoint.
The AMT tax liability could be 'back dated' to the 2012 tax year, and it would hurt over 60 million taxpayers (not the 33 million you see in the WSJ headlines).
- Again, there aren't that many taxpayers left in America (since half pay no taxes), and the 60 million aren't 'rich' but middle class tax slaves on the Federal plantation supporting the tax-spenders promises of 'free' stuff to the tax-eaters (phones, food, housing).
'Free' stuff, isn't free.
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