AMT Patch Passes House

[TAXBILLY]

and now to the Prez for his signature.

taxbilly

[OldJack]

I have not read it but from the TV news it appears it is only a fix for the year 2007. After all the Dem's would not want the other party to get credit for such a thing.

[joanmcq]

Aw, gimme a break. This whole thing has been a fiasco, and its the prez's 'tax cuts' that caused the AMT to affect the lower income people in the first place (sure I'll cut your taxes, but won't tell you the reduced bracket will put you into AMT, so its really not a tax cut), as well as the sunset provisions to make the decreased revenue streams palatable.

[BulldogTom]

Aw, gimme a break. This whole thing has been a fiasco, and its the prez's 'tax cuts' that caused the AMT to affect the lower income people in the first place (sure I'll cut your taxes, but won't tell you the reduced bracket will put you into AMT, so its really not a tax cut), as well as the sunset provisions to make the decreased revenue streams palatable.

Blaming all of this on Bush is not fair. AMT has been a problem for years, and multiple congress' and the presidents have been including the revenue projections from AMT into their budgets knowing that they were never going to tax the middle class via AMT. It is just getting harder and harder the longer they put it off. This happens to land in GW's lap, but it ain't all him. It is not his tax cuts that caused all of this, even if they were a contributing factor.

Mostly, it is politicians lying, then blaming someone else, then lying some more that got us into this fiasco.

Tom

Lodi, CA

[joanmcq]

Twas, Bush and his congresses that passed all these short-term tax cuts and credits. We all knew the sunset provisions were a scam. Then the expirations are called a 'tax increase' and god knows, no-one wants a tax increase! We had the same thing here in CA with the VLF fee increase; when the fees were decreased, the state promised the counties (that actually got the VLF monies) that they would replace the lost fees, but if the state budget ever got to the point where they couldn't reimburse the counties, the VLF would AUTOMATICALLY increase to its former level.

When that happened, the powers that didn't be screamed TAX INCREASE! Now, not that I liked Gray Davis, but the spin on that was the same spin on the Bush tax cuts, the AMT patches, etc. And I'm frustrated by the masses believing the spin.

And I'm sick of it, even if it keeps me employed