Friday, December 28, 2007

Is it Time for a Tea Party Yet?

The Alternative Minimum Tax (AMT) was created into law in the late 60's to keep the wily tax-dodging rich from getting away without paying a dime. It was a good idea (although far too lenient).

But the AMT hasn't kept pace with inflation. Now middle and upper-middle income families are falling prey to this tax. Ok, let's not cry too loud. We're not talking about the poor. But this is on the heels of Bush's tax breaks for the rich, furthering the divide between the payers and the payers not.

Much ado is currently being made about how folks will need to be filing late becasue the IRS had to rewrite five forms related to the AMT. Why? Because Congress was trying to fix this tax. Now seriously, the tax needs more than the yearly patchwork to minimize its impact on the middle class. It needs a complete overhaul with its original intent reinstated. But at least Congress was trying.

The problem that faced Congress was the $50 billion shortfall that would result from the fix. And true to form, Bush growled and snarled and clashed his teeth when Congress mentioned raising taxes on the rich to make up the shortfall. So Congress caved and let the shortfall stand as a shortfall. Just more money to borrow from China.

Why do working class conservatives continue to believe this tyrant has their interests at heart. We are all (excepting you uber rich out there of course) being robbed blind. This is the biggest heist in American history and the law is just telling the gangsters to help themselves. And if they get bored not arresting the real criminals, they just round up patriotic citizens and arrest them instead.

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