Senator Chuck Grassley has been the chairman of the Committee on Finance since 2003. He hasn't done crap to fix this problem, but he's had time to find $50 million of the taxpayer's money to build some stupid rainforest in his home state of Iowa.
Posted on 04/17/2006 12:48:15 PM PDT by SmithL
Use the IRS, Luke. Use the IRS!
:-)
The best part - it hits blue states more than red states - wonder if democrat politicians want to grant a tax cut to their voters...
The AMT nearly got me this year, and the sole reason was that we sold a house. So they tell you the tax rate on a capital gain is 15%, but then they nail you because you didn't pay the tax that they wanted you to pay on the capital gain. WTH?
Fortunately we kept digging and found a clause that excluded our capital gain, which knocked out the AMT. I'm still peeved, though.
"The best part - it hits blue states more than red states - wonder if democrat politicians want to grant a tax cut to their voters..."
This just in, there are alot of conservative Republicans that live in "blue" states.
If this is what we get for voting in Republicans, I want no part of it. At least the Rats tell you they're going to raise taxes.
Republicans piss on your leg and tell you it's raining.
The conventional wisdom around here is, better a Republican piss on your leg than a Democrat.
Well, I don't care for any piss -- blue or red -- on my leg. But that's just me.
Republicans have had the power (more or less) to right this wrong since 1995.
Yet, here we are, 11+ years later.
"Smaller-government conservatives" my @ss.
I chuckled when I heard that my sister recently learned that her husband's income falls into this bracket. Her comment, "But, we're not RICH." She doesn't even understand what the leftist's definition of wealth is. She considers herself one of the "little people". I agree, in that she keeps her eyes closed when it comes to the world around her and just how much it costs.
Republicans will only piss on you for 30 seconds instead of 45 like the democrats will. However the republicans will demand a thank you for the 15 seconds you didn't get pissed on.
WTF?
Riiiiight...like the voters are even paying attention to the 2.7 trillion already being spent this year. Democrats just don't want to repeal the AMT because it isn't hurting their blue-collar/minority base much at all, and the wealthy liberals can easily be guilted into supporting its retention in the code.
Abolish the IRS, pass the fairtax
That must have been a LOT of capital gains.
ditto
Envy is an ugly thing. It is also a destructive force in a free society. Why should I care if a few wealthy individuals manage not to pay their "fair share" (whatever that means) -- especially if forcing them to pay more means I will have to pay more too?
It erases a raft of whopping write-offs in affluent places like Silicon Valley, notably deductions for mortgage interest, property taxes, state income taxes and miscellaneous itemized deductions. The AMT also targets capital gains and dividend income and paper profits on incentive stock options.
In other words, it is a tax on success.
Senator Chuck Grassley has been the chairman of the Committee on Finance since 2003. He hasn't done crap to fix this problem, but he's had time to find $50 million of the taxpayer's money to build some stupid rainforest in his home state of Iowa.
Not to mention, this is a powerfully anti-family tax. If you want to avoid the AMT, don't get married, and don't have kids.
What is amusing is that 99% of those fussing about the Republicans will go ahead and vote Republican next election.
And the one after than and the one after that....
And the GOP knows it.
But they feel good griping about it.
NATO. No Action, Talk Only.
Yep, nasty little tax there. Our instructor showed us how a family of 8 with a certain amount of income could barely come under the AMT and not have to pay more. But simply add two more children in there and now that income is subject to additional AMT.
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