I had heard that it's been hitting people around the $100K marke lately. Does anyone have any statistics about the AMT and whose been getting hit by it?
Oh yeah I also agree that we need to look into AMT and payroll tax reforms instead of just focussing on income and capital gains taxes.
in 2010 it's suppposed to do that. http://www.brookings.edu/views/op-ed/gale/20040121amt.htm I read in an article in Slate that currently it kicks in around 200.
Am I reading this correctly? Sam's lamenting that a tax that hits people earning greater than $200K should be reduced/adjusted/indexed higher? $500K is middle class? I might expect this from Walker Bush, but not from our man Sam.
Just don't try to improve your income up to 200K. That is the "evil rich" line. Once you go above that you deserved to be raped for even more of your money for working harder and improving your income. Just don't let it slip out that those "evil rich" people pay like 85% of the tax burden of the country already.
Well when an apartment in manhattan averages 1 milllion, not to mention state income taxes...yeah 200k certainly isn't upper class, but I digress. The problem with the AMT isn't that it taxes income unfairly, it taxes deductions unfairly. Accordingly, somebody who has a lot of deductions due to state income tax is going to get hit with it, or with a high mortgage etc....Those aren't the kind of people it was designed to get. Read the brookings article about it for more.
George H.W. Bush raised taxes. I don't know the specifics of the tax raises you're talking about under Clinton (I was in middle school when he was first elected)... BUT, isn't it sometimes necessary to change the tax intake when circumstances arise? The other argument would be to lower the things the government pays for, but I think the past ten years have shown that no matter which party is in power, pork barrel politics and greed rule above all.
That is the disgusting part of Kerry Ketchup and today's Demon-rats. He is just playing the old playbook of communist russian or china and think people are all jerk who like to rob the rich as if they are the enemy of the rest of the human being. I call for the deportion of Kerry to Cuba where he could run president against the dictator. everybody will be happy.
I call for your deportation to an island where you can pay for everything yourself since you obviously don't need the government for anything.
Ok I make $90k how will John Kerrey lower my taxes? Even if he leaves everything else alone and only raises taxes on the folks over $200k how in teh world does that lower my taxes? Again I would love you to show me the math how Kerrey will lower my taxes from what I'm paying right now. No way can he raise taxes on teh upper 1%, cut everyone elses taxes and still reduce the deficit which he has promised to do. Similar to most political ads: It doesn't add up.
The Austin American-Statesman defined the "working rich" as those earning $25 an hour or more, about three years ago. $25 an hour works out to $50,000 for a full year before taxes, so essentially they're telling me I've been rich (obscenely so based on that figure) for years and I never even realized it. I can't wait til being rich means I can do some of the things we normally associate with being rich. Like, not work, for one. Anyway, as a rich person, I believe it is my duty to tell you all how to live, work, post, etc. I am formulating my response and should have it posted soon, assuming the poor people I am paying to chew my food stay on schedule. P'ZZONED.
If you really want to be rich, you can get a job as an unskilled contractor for 100K in Iraq (cook) and 400K if you are an engineer. Just heard that figure this morning on the radio.
