[the machine]

I keep hearing all sorts of complaints about the Bush tax cuts going away and how much it will hurt the economy and the wealthy but very few people even talk about the much more cumbersome and painfull Alternative Minimum tax. This tax hits way more than just the "wealthy" since it kicks in at $45K this year for maried couples. What difference does it make to anybody what the highest tax rates are when the Alternative Minimum is what kicks in for most of those at the top bracket and many no where near it, anyway. And the AMT is much harder on those small businesses that create most of the jobs in this country, since the AMT takes away most of the deductions that bring your taxes down. The AMT hits me way harder than any top rate increase as I will still pay the higher rate of the AMT, and so will many of you.

This is just another example of how the bullshit arguments between the left and the right and all the blow hards that live off of those arguments hide the reality of life in this country today. There was some discusion about raising the AMT, and it was raised to $70,950 last year but since congress is in no mood to pass anything these days it will fall again this year to the $45k level. Why is there no outrage on either side??? Because both sides get no benefit from this argument. It is too confusing and the politicians on both sides know that if they do anything to solve this problem the deficit explodes. So they argue back and forth about how higer taxes hurt the economy or that the rich will be hurt or they don't need the extra money anyway....it's all a show. It's all bullshit and those who continue to post here about it or yell about it at rallies are just being used by the puppet masters who point them in one direction while they do the real harm in the other. I wonder why Beck and Rush and Palin don't yell about this one??? :crazy:

 

[Texdentist]

I keep hearing all sorts of complaints about the Bush tax cuts going away and how much it will hurt the economy and the wealthy but very few people even talk about the much more cumbersome and painfull Alternative Minimum tax. This tax hits way more than just the "wealthy" since it kicks in at $45K this year for maried couples. What difference does it make to anybody what the highest tax rates are when the Alternative Minimum is what kicks in for most of those at the top bracket and many no where near it, anyway. And the AMT is much harder on those small businesses that create most of the jobs in this country, since the AMT takes away most of the deductions that bring your taxes down. The AMT hits me way harder than any top rate increase as I will still pay the higher rate of the AMT, and so will many of you.

This is just another example of how the bullshit arguments between the left and the right and all the blow hards that live off of those arguments hide the reality of life in this country today. There was some discusion about raising the AMT, and it was raised to $70,950 last year but since congress is in no mood to pass anything these days it will fall again this year to the $45k level. Why is there no outrage on either side??? Because both sides get no benefit from this argument. It is too confusing and the politicians on both sides know that if they do anything to solve this problem the deficit explodes. So they argue back and forth about how higer taxes hurt the economy or that the rich will be hurt or they don't need the extra money anyway....it's all a show. It's all bullshit and those who continue to post here about it or yell about it at rallies are just being used by the puppet masters who point them in one direction while they do the real harm in the other. I wonder why Beck and Rush and Palin don't yell about this one??? :crazy:

I guess we read different news sources, because I see discussions of the AMT all the time. You are correct that the public in general doesn't seem to understand it's impact on them, but the fact is that the AMT was meant to affect only the very rich and prevent them from using loopholes to pay no tax. Over the decades, as incomes have crept up, the AMT has affected more and more people. Like you said, I think as long as there is not an uprising, both sides of congress are happy to roll along getting the revenue without any backlash. There needs to be backlash, and hopefully when they revisit the tax cuts, it will be included in the discussion. The depths our elected officials will go to to grab our money for their own utopian ideas is a shame.

 

[duneripperxx]

I keep hearing all sorts of complaints about the Bush tax cuts going away and how much it will hurt the economy and the wealthy but very few people even talk about the much more cumbersome and painfull Alternative Minimum tax. This tax hits way more than just the "wealthy" since it kicks in at $45K this year for maried couples. What difference does it make to anybody what the highest tax rates are when the Alternative Minimum is what kicks in for most of those at the top bracket and many no where near it, anyway. And the AMT is much harder on those small businesses that create most of the jobs in this country, since the AMT takes away most of the deductions that bring your taxes down. The AMT hits me way harder than any top rate increase as I will still pay the higher rate of the AMT, and so will many of you.

This is just another example of how the bullshit arguments between the left and the right and all the blow hards that live off of those arguments hide the reality of life in this country today. There was some discusion about raising the AMT, and it was raised to $70,950 last year but since congress is in no mood to pass anything these days it will fall again this year to the $45k level. Why is there no outrage on either side??? Because both sides get no benefit from this argument. It is too confusing and the politicians on both sides know that if they do anything to solve this problem the deficit explodes. So they argue back and forth about how higer taxes hurt the economy or that the rich will be hurt or they don't need the extra money anyway....it's all a show. It's all bullshit and those who continue to post here about it or yell about it at rallies are just being used by the puppet masters who point them in one direction while they do the real harm in the other. I wonder why Beck and Rush and Palin don't yell about this one??? :crazy:

:agree:

We had a few threads bout it but it fell off the radar for some reason.

these peep are just gonna rally for the right and fall and impale themselves...............and enjoy it.:crazy:

 

[Vette_Newb]

I guess we read different news sources, because I see discussions of the AMT all the time.

:agree: But then again, I don't watch Sesame Street, Colbert, or John Stewart for my news.. must be the difference.

 

[skd81shark]

Love the "Tax the Rich" neo-socialist junk...nothing like penalizing success to spur everyone on.

50% of America doesn't really pay taxes...(That whole Refund game)

According to the CBO, and Treasury...70% of Taxes are paid by the upper 4% of wage earners...(that'sthe Rich, AKA Business owners and employers) Look at the tax brackets they live with.

The other 30% is paid by upper middle class...($250K/yr plus) Which most of these are also known as business owners and employers. (26% taxpayers)

SO...it seems to be a great idea to tax all these "rich" now doesn't it? Sooner or later, they aren't going to be rich anymore..........

I think we should lop off spending, bailouts, foriegn aid, and pork projects (aka stimulus...110 million...for 55 jobs in LA...whoohoo!!! That worked GREAT!:down all these idiotic politicians throw out, go to a flat tax, (10-15% regardless of income level) and only let them spend....what comes in...like every other business and family has to do (or should be doing)

New Congress/Senate rule: (broken down for clarity)

"If you don't got it in your pocket..Don't spend it. "

and

"Future money has the same value as powdered water and fairy dust. Don't count it until you have it"

And if they cant do that...well...they can join the 9% still drawing unemployment...or the 15% that used to...but can't anymore.








Then what?