02 December 2004


If you're going to be following the coming political fight over tax code revision, Big Media Matt conveniently gives a capsule review of what W has proposed.
... once the estate tax elimination is fully phased in, if you happen to inherit a large fortune that provides enough income to live off of without working, you'll never need to pay any taxes at all. Note that if the problem with the Alternative Minimum Tax is that it was "designed to ensure that the rich pay income taxes but one that increasingly ensnares the middle class," the solution is to raise the threshold at which the AMT kicks in and index it to inflation so this doesn't happen again. Eliminating the AMT isn't a way to help the middle class ...
Go check it out; it will help energize your BS detector on this topic for months to come.

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