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Published on April 19, 2005 By Dr Guy In Politics

Back in 69, the liberals were in control and riding roughshod over the american people. Then, a pencil neck by the name of Joseph Barr comes riding in for a few days and declares to congress that 21 millionaires did not pay any tax the previous year due to loop holes (read: Deductions).

Well these saints of sanctity could not let that stand!  No the evil rich people must be punished for their sins!  How dare they take advantage of the laws for their own benefit!

So in its wisdom (stupidity) congress passed the AMT - Alternate Minimum Tax.

Now back in those days, a person making $50 grand a year was considered rich!  And so they stuck it to these rich people.  But like all greedy people, they forgot to check the details.  Especially the one that did not index the AMT for inflation.

So now, all of a sudden, some middle class people are getting stuck with the AMT! Yep, and it is not an equitable tax (that is an oxymoron) as it hits the high tax states worse than the low tax states (read: democrat vs republican).

And so a call to arms has gone out!  Sen. Barbara Boxer (motto: no statement too stupid for me to make) says: "The AMT needs to be fixed,".  (That gets an insightful DUH from me.)

Sen. Chuckie "Filibuster me" Schumer also is up in arms: "We need to address the AMT, which is trickling down to catch more and more middle-class families in New York,".  At least he knows which state he represents.

Yes, ladies and gentlemen, liberals have finally found a tax they do not like.  But they only did not like it when it was pointed out that high tax states like NY, CA and Taxxachuttes (Wonder where {hic} Kennedy and Kerry are on this one) were getting nailed the hardest, and no tax states like Fla and Wisconsin were being bypassed.

Ah well, I guess even liberals can feel a pinch in their paycheck now and then. It warms the cockles of my 'No New Tax' heart!


Comments
on Apr 19, 2005
You know New Jersey is the 3rd most heavily taxed state in the country? Where are my senators' outrage on this? Nice to know they care.
on Apr 19, 2005

Let's see, you have Lautenberg (I think he is with Pope John Paul II now) and Corzine, a wall street raider.

Hmmmm....good question!

on Apr 30, 2005
The AMT was designed to prevent wholesale write offs and preferential capital gains[excluding the sale of residence]. Had Bush not tampered with the tax structure there would be no need to terminate it.