These are the basic ideas that guide my tax policy: lower income taxes for all, with the greatest help for those most in need. Everyone who pays income taxes benefits â€” while the highest percentage tax cuts go to the lowest income Americans. I believe this is a formula for continuing the prosperity we’ve enjoyed, but also expanding it in ways we have yet to discover. It is an economics of inclusion. It is the agenda of a government that knows its limits and shows its heart. – George W. Bush
Did anyone else get hammared today? ‘Cos I sure did. That was unequivocally the biggest tax check I have ever written. I got wholloped with the alternative minimum tax. Gles M. sent me an article from the New York Times that says this tax will cause about 2.9 million families to pay an average of about $6,000 more than what they would owe under traditional calculations. GWB has worked hard to eliminate the alternative minimum tax from corporations, but despite all the crowing to the contrary, taxes on the middle class are getting higher, while those of the wealthy are getting lower, according to the WaPo.
I wouldn’t care if I thought the money was going to the poor, the homeless, the mentally ill, foster children, etc., but the thought that most of it is going to Halliburton and their ilk really scalds me. I guess we’re giving up on that “enomics of inclusion” crap. Fearless Leader has neither limits nor heart.
(photo courtesy stock.xchng)