To: Sub-Driver
I want to know how this would help him tax wise....isn't he getting hit by the AMT which means no deductibles (personally I can't wait for more people to get hit by the AMT so that maybe the masses will care to scream about this evil tax!)
How do rich people not get hit by the AMT? Cheney for instance...a few weeks back there was a big deal about how much he made and deducted for charities...um, shouldn't he have been hit by the AMT and not been able to deduct? I just don't get it.
19 posted on
05/06/2006 7:24:04 PM PDT by
socialismisinsidious
( The socialist income tax system turns US citizens into beggars or quitters!)
To: socialismisinsidious
You are limited in what you can DEDUCT, it was 10% of your income. I don't do taxes at this time, so am not sure what the percentage is today. I am sure Cheney paid on all of his income that was taxable and it was more than if he were allowed to use the AMT schedule.
If he hadn't you know the media would have been all over him. As a matter of fact there was little coverage of his income tax papers.
24 posted on
05/06/2006 8:23:02 PM PDT by
frannie
(Be not afraid of tomorrow - God is already there!)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson