Posted on 12/10/2010 1:40:50 PM PST by RonaldReagan4Ever
Nobody seems to be discussing the AMT fix, this is the biggest poison pill out there IMHO, if this goes beyound 12/31/2010 it will wreak havoc on the middle class tax filers, delay refunds/filing by God knows how long and how hard it would be for the ever so competent IRS to sort it out retroactively. The GOP cavalvary can fix the RAT Bush tax cut mess when they are seated, but the ripple effects of not fixing AMT with at minimum a refund delay or worse an extra $5K-$10K hit in the shorts in April for millions of middle class tax payers would kill us off.
Two run-on sentences from you which include the non-word “cavalvary” qualifies as “News”?
I think not.
Chat material, if that.
FAIL.
* The first time you use an acronym in your document, the words should be written out with the short form placed in parentheses immediately after. This way, it’s clear to the reader exactly what the letters mean. Here’s an example:
A New World Order (NWO) came into effect after 9/11.
Hi HG
I wish they would let the AMT “fix” expire. It would basically give us the flat tax, and the middle class would finally pay their fair share.
What the Sam Hill (SH) are you talking about? My Information Threshold (IT) for understanding is not met. So thus far this article is Sam Hill Information Threshold failed.
How’s yer Beeber?
Don’t listen to these guys/gals. Your message was loud and clear...and true.
Alternative Minimum Tax is a monster if it doesn’t get a new “fix” and many a FReeper will feel its painful pinch. It is reaching way down to the average family in its present state.
kinda draging
Cloward-Piven. Cloward-Piven. Cloward-Piven.
In the case of the IRS and the whole tax system, I can’t say I have any problem with Cloward-Piven.
BTW: Sometime in the past year, Glenn Beck says, he mentioned Cloward-Piven to a MAJOR, MAJOR, powerful, powerful Republican on Capitol Hill, and the guy said, “Who’s that?”
Good observation.
REMEMBER....
Democrats PLANNED for all of these hikes to fund OBAMACARE.
Without them, the budget problems are going to explode in FY 2011-2012, with no money to bail out the Democrat states.
A PERFECT STORM....
I am pretty sure that the taxes from Bush cut-backs, AMT, & the estate tax being raised to 35% are all applicable to 2011 income.
Passing a tax that would be retroactive to Jan 1st, 2010 on or about Dec 10 would be suicide by the Dems.
IF the AMT still needs to be addressed, isn’t there room & time for that when Jan comes & the Republicans are in charge in the House???
Please clarify.
They better fix it or I'm going to be screwed.
Agreed. People may not understand that the AMT can and will catch a whole lot of taxpayers who have what should be vanilla tax returns. It started as a way to nail millionaires who used tax shelters to pay zero federal income tax - because it was not indexed and because it screws itemized deductions, it has worked its way down to middle to upper middle class people.
Let it expire. People need to be more angry at all the crap that’s going on in Washington.
We need Income Tax Reform to the extent that: IF YOU DON'T PAY ANY TAXES, YOU SURE AS HELL ARE NOT GETTING ANY "REFUNDS" or "REBATES".
The AMT hurts the most in Blue states, because the AMT keeps you from benefiting fully from all your deductions. A good portion of these deductions are income taxes. Red states, in general, have lower, or even non-existent taxes, so the when the Blue Staters have to pay the AMT, they suffer from not being able to make these deductions.
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