AMT will hit 15 million more in 2006

Associated Press ^ | 12-14-05 | Mary Dalrymple

[Retired COB]

As a retired Navy Master Chief, I'd take exception to your theory about folks receiving a government check. Trust me, I earned every nickle of it....it's not a handout.

[Hank Rearden]

Let me be the first to say: "Hillary! Hillary, Hillary, Hillary!"

Sorry, that old "We don't suck as much as they do!" line doesn't work on me. I don't vote for Big Stupid Government, not even the Republican version, which is currently in vogue and coming on strong.

[Atlas Sneezed]

I didn't mean to suggest you didn't earn it, but would you agree that the nation's interest would be better-served by letting elections be decided by those who are net taxpayers?

Put another way, if giving up your vote meant that a dozen teachers and welfare addicts were unable to vote, wouldn't we have better results?

This is just a thought problem, not a smear on the military.

[EagleUSA]

Thanks again, greedy Republican politicians. More of what we've come to expect from The Other Big Stupid Government Party.
And yet, you expect our votes? Jam it, you parasitic thieves.
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My thoughts exactly -- these b@stards are doing this deliberately to boost the Federal coffers. THEY HAVE NO POLITICAL CAPITAL NOW to criticize the SOCIALISTS for raising taxes, do they?

Even the most complacent and the most stupid should be able to see that these elitists do not give a damn about the American taxpayer -- ONLY FUNDING THEIR AGENDAS ON YOUR BACK, and in the process, taxing the middle class out of existence. It is all very clear.

[vrwc0915]

to each according to his means will be taken to give those with the needs.

The communist manifesto is almost completely implemented in the USA and most seem to enjoy it so long as they get their tax break and those evil rich people have to pay more because they have more

[oceanview]

before the AMT, the system was actually inverted in many cases. middle class W2 wage earners who could not structure themselves would actually wind up paying higher effective tax rates then the wealthy.

what do you call that system? the "i'm rich so I get away with it" manifesto. to hell with that.

the abuses in the income tax code are at the bottom and at the top:

- the earned income tax credit wiping millions off the tax rolls who then turn around and become a mass of citizens who basically vote themselves "free stuff" from the system because they have zero liability for it themselves

- people at the top who can structure themselves to avoid taxation, use shelters, etc.

that leaves the middle class W2 wage earner holding the bag.

[RedStateRocker]

It's a sad, dad day when Chuck and Diane make more sense than a Republican from Tennessee:-(

[hubbubhubbub]

who uses a Porsche for "business purposes"?

I don't but my car, phone, computer, part of my house(inc heat and A/C), medical expenses, uniforms, education, out of town travel and other misc are deducted.

I realized I couldn't change the tax laws but I could change my behavior to take advantage of the laws. I chose the latter.

[Retired COB]

"Put another way, if giving up your vote meant that a dozen teachers and welfare addicts were unable to vote, wouldn't we have better results?"

I went into harms way to guarantee you and I the right to vote and I would not willingly give it up for any reason. We'll just have to work harder to convince the other side that we're right.

[Trust but Verify]

If you don't mind, can you tell us roughly how you are getting snagged? My understanding has always been that the people who are getting hit with the AMT are moderate income people who have a mortgage deduction and more than two or three children for whom they are able to claim, in addition to the personal exemption, the $1000/child CREDIT.

[Trust but Verify]

Can a person decline to claim the number of deductions and credits they are due in order to escape the AMT?

[goldstategop]

Considering its liberals who are paying more, I see no reason to reduce the AMT just for them. Besides they've always whined about owing more taxes - here's their chance to step up to the plate and practice what they preach.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie.Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")

[oceanview]

and pay a higher tax bill? sure, I guess so. its the alternative MINIMUM tax, its the floor below which a person cannot go. if they want to pay at a higher level, I guess its legal.

[Trust but Verify]

What I mean is, if zeroing out your tax liability by having too many deductions and credits throws you into the AMT, why couldn't you just find out at what point you cross that threshold and make sure you stay below it? i'm assuming the amount you would pay in AMT would exceed the amount you would owe by taking fewer deductions.

My husband and I cannot itemize and we no longer have any dependents so we're the taxman's wet dream.

[oceanview]

you do that essentially - you key everything into turbotax for example - it computes that threshold, and your liability cannot go below the AMT value. and yes, you can structure yourself to avoid it.

[RedStateRocker]

I don't see how that would be the case. By my reckoning the people most likely to pay more are:
-tithers
-small independent business owners
-people with kids.

None exactly high risk factors for the mental disorder of Big Government liberalism. But please correct me if I am in error as I sure ain't the first person to be wrong WRT the tax code :-