Democrats Craft New Tax Rules, New Image

[napi21]

The proposal, still in its preliminary stages, would attempt to restore the original purpose of the parallel tax structure, which was created in 1969 to nab 155 super-rich tax filers who were using loopholes and deductions to wipe out their tax bills.

Because it was not indexed for inflation, the AMT delivered a significant tax increase to an estimated 3 percent of households this year. Unless the law is changed, it is projected to strike nearly 20 percent of taxpayers when they file returns next spring, many earning as little as $50,000 a year.

http://www.washingtonpost.com/wp-dyn/content/article/2007/04/22/AR2007042201552.html?referrer=email&referrer=email&referrer=email

I've worked with taxes for quite a number of years, and although I'm not a tax accountant, Iam an accountant and I've helped a lot of people prepare their tax returns over the years.

WHY the hell don't they take the easy way out of this AMT mess? Adjust it for inflation since 1969, and NOW tie it to the inflation rate from now on? It's a straight forward solution, everyone can understand what you're doing, and it's as fair today as it was in 1969!

Whay the hell does everyone try to make this a LONG and deeply involved problem?????

[One_Life_To_Give]

1. To get money from special interests

A simple tax code has no place for you to do little "favors" for special interest groups.