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Thread: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Did I fall asleep during the Clinton administration and miss how his tax levels were world-crippling?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by Deuce View Post
    Did I fall asleep during the Clinton administration and miss how his tax levels were world-crippling?

    False comparison.


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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by j-mac View Post
    False comparison.


    j-mac
    The expected tax increases put us on comparable levels with what we had during the Clinton administration.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by Deuce View Post
    Did I fall asleep during the Clinton administration and miss how his tax levels were world-crippling?
    Didn't Slick Willy leave us in a recession? Or, is that recession Bush's fault, too?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by apdst View Post
    Didn't Slick Willy leave us in a recession? Or, is that recession Bush's fault, too?
    So a recession began with the somewhat higher Clinton-level taxes and another began with the lower Bush-level taxes. Clearly, higher taxes cause recessions!!
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by Deuce View Post
    So a recession began with the somewhat higher Clinton-level taxes and another began with the lower Bush-level taxes. Clearly, higher taxes cause recessions!!
    Which is it? You know everything, so why don't you tell us what's going on?

    According to you and your pards, higher taxes is going to end the recession and make life wonderful for everyone.
    Last edited by apdst; 10-19-10 at 12:39 AM.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by apdst View Post
    Which is it? You know everything, so why don't you tell us what's going on?

    According to you and your pards, higher taxes is going to end the recession and make life wonderful for everyone.
    Higher taxes wont fix the recession, but they will reduce the deficit which is becoming a serious drain on our economy.

    Find me one person who said higher taxes would fix the recession.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by Deuce View Post
    Higher taxes wont fix the recession, but they will reduce the deficit which is becoming a serious drain on our economy.

    Find me one person who said higher taxes would fix the recession.
    You just stated that the deficit is a drain on our economy. How is that different than saying that higher taxes won't fix the economy?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Meh, I actually agree that they should just get rid of the AMT (or at least seriously reform it) rather than doing this dance every single year where they patch it. It's nothing more than an accounting trick: as long as it technically remains on the books, that money can be used for revenue forecasts...even though everyone knows it will just be patched again the next year.

    The basic concept is good: make sure that rich people are paying taxes. But I think a better approach would be to see if we REALLY need such a complex tax system in the first place. Let's analyze all of the various deductions and see if they actually accomplish anything that the government should be incentivizing at all. My hunch is that there are a few good deductions (tuition, health care expenses, charitable donations) and a lot of bad ones (mortgage interest, retirement savings). Let's just keep whichever deductions actually benefit society, scrap the rest, and get rid of the AMT. If rich people are still able to avoid paying taxes after the tax code is simplified, then they must be doing something that we want to incentivize.
    Last edited by Kandahar; 10-19-10 at 02:33 AM.
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    Re: Taxpayers Anxiously Await Annual 'Patch' to Alternative Minimum Tax

    Quote Originally Posted by Kandahar View Post
    Meh, I actually agree that they should just get rid of the AMT (or at least seriously reform it) rather than doing this dance every single year where they patch it. It's nothing more than an accounting trick: as long as it technically remains on the books, that money can be used for revenue forecasts...even though everyone knows it will just be patched again the next year.

    The basic concept is good: make sure that rich people are paying taxes. But I think a better approach would be to see if we REALLY need such a complex tax system in the first place. Let's analyze all of the various deductions and see if they actually accomplish anything that the government should be incentivizing at all. My hunch is that there are a few good deductions (tuition, health care expenses, charitable donations) and a lot of bad ones (mortgage interest, retirement savings). Let's just keep whichever deductions actually benefit society, scrap the rest, and get rid of the AMT. If rich people are still able to avoid paying taxes after the tax code is simplified, then they must be doing something that we want to incentivize.
    For the most part I agree, but why get rid of Mortgage interest, and Retirement savings incentives?

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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