Comments on: Leading Off http://frontburner.dmagazine.com/2007/11/20/leading-off-114/ FrontBurner® has been called the best blog in Dallas (repeatedly), a snarky celebration of ignorance, and a daily conversation about Dallas among the editors of D Magazine. Sun, 21 Mar 2010 19:06:04 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: HSH http://frontburner.dmagazine.com/2007/11/20/leading-off-114/comment-page-1/#comment-2357 HSH Tue, 20 Nov 2007 17:26:39 +0000 http://frontburner.dmagazine.com/2007/11/20/leading-off-114/#comment-2357 "The vast majority of Americans pay little or no tax at all". I'm assuming you are referring to the AMT not taxes in general. If the AMT isn't fixed this year, it's estimated that ... "Nearly three out of four families earning from $75,000 to $100,000 could face the AMT this year, along with 97 percent of families earning from $100,000 to $200,000. The amount of the extra tax is not paltry: The 23 million forced into the AMT could each pay $2,000 more than under the regular tax system. The House passed AMT patch legislation this month on a 216-193 vote, but Republicans say it will die in the Senate or on the president's desk because it raises taxes on investment fund managers." “The vast majority of Americans pay little or no tax at all”. I’m assuming you are referring to the AMT not taxes in general.

If the AMT isn’t fixed this year, it’s estimated that … “Nearly three out of four families earning from $75,000 to $100,000 could face the AMT this year, along with 97 percent of families earning from $100,000 to $200,000.

The amount of the extra tax is not paltry: The 23 million forced into the AMT could each pay $2,000 more than under the regular tax system.

The House passed AMT patch legislation this month on a 216-193 vote, but Republicans say it will die in the Senate or on the president’s desk because it raises taxes on investment fund managers.”

]]> By: Trey Garrison http://frontburner.dmagazine.com/2007/11/20/leading-off-114/comment-page-1/#comment-2344 Trey Garrison Tue, 20 Nov 2007 16:33:27 +0000 http://frontburner.dmagazine.com/2007/11/20/leading-off-114/#comment-2344 Thank you for correcting my Marxist colleague. Thank you for correcting my Marxist colleague.

]]> By: Peterk http://frontburner.dmagazine.com/2007/11/20/leading-off-114/comment-page-1/#comment-2341 Peterk Tue, 20 Nov 2007 16:18:03 +0000 http://frontburner.dmagazine.com/2007/11/20/leading-off-114/#comment-2341 The AMT is a perfect example of the Law of Unintended Consequences. Passed by a Congress to supposedly tax wealthy folks who had paid little or no taxes it was not indexed to the rate of inflation. If the AMT had been indexed against the rate of inflation we would not have the current problem. as for hiking taxes on the rich they are already paying a good portion of the tax bill. The vast majority of Americans pay little or no tax at all The AMT is a perfect example of the Law of Unintended Consequences. Passed by a Congress to supposedly tax wealthy folks who had paid little or no taxes it was not indexed to the rate of inflation. If the AMT had been indexed against the rate of inflation we would not have the current problem.
as for hiking taxes on the rich they are already paying a good portion of the tax bill. The vast majority of Americans pay little or no tax at all

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