AMT

[Jim]

OK - so Congress adjusted the AMT so the middle class (whatever that is) doesn't get snared. It needed adjusting. But WTF is up with the GOP? So you punch a 50 million hole in the revenue side, wouldn't it be smart to make an offset? Duh!!!

 

The Dems suggested closing the oil company tax loophole that provided Exxon with tax reductions to spur exploration. Like they need any more motive with the current oil price and their record profits the last 5 yrs?

 

No - the GOP threatened fillabuster and Bushie said he would veto it. This is fiscal responsibility. Interesting that Bush allowed the Republican Congress to increase domestic spending 7-9% a year ($200 Billion this year for war is off the books - go figure) and now, suddenly (what legacy?) he wants to sqeeze the quarter. The guy is an idiot.

[chucK]

Didn't they have another proposed offset that would have made the hedge-fund managers bonuses be counted as regular income instead of capital gains? I liked that idea too.

 

Personally, I'd go for siding with fiscal responsibility by not increasing the AMT limit if they aren't going to offset it. Or how about decrease spending? Like maybe reducing the $200 billion war outlay by $50 million. That's 1/40 of a percent! Think they could handle it?

 

 

[Jim]

Didn't they have another proposed offset that would have made the hedge-fund managers bonuses be counted as regular income instead of capital gains? I liked that idea too.

 

Personally, I'd go for siding with fiscal responsibility by not increasing the AMT limit if they aren't going to offset it. Or how about decrease spending? Like maybe reducing the $200 billion war outlay by $50 million. That's 1/40 of a percent! Think they could handle it?

 

Correct, they did float that hedge fund income idea, again shot down by the GOP. These guys just want to increase spending without paying for it. Without a strong, 60 vote majority by the Dems, and/or a Dem president, this is the way it's going to be. One more f****** year with this idiot.

[chucK]

The Dems are just too goddamned timid, and don't give the voters credit for knowing whose fault it is. They are worried that if they let the GOP obstruct raising the limit in a fiscally responsible way that there's a chance that those wily GOP'ers will successfully blame them with the voters. Probably wouldn't happen, but it could. The Dems are guarding their lead, playing the prevent defense. They suck.

 

The Dems could let the GOP'ers obstruct changing the AMT. Who would it hurt? The upper middle class, people who are generally well-educated and would see through the GOP trying to spin it as the Democrats raising taxes. Bush has zero (OK 30%) credibility. Why can't the Dems use that?

 

Yes Bush and GOP are responsible for this, but I'd love to see the loyal opposition try a little harder.

 

 

Also what a non-partisan solution? Could anyone claim taxing big oil and hedge-fund managers an equal burden on both sides of the aisle? If they really wanted to try "unity" they could propose some across the board earmark cuts to make up that $50 mill. That would blunt any cries of "more taxes".

 

Oh well

 

(It's all so easy from where I sit )