Can't Afford to Be Fair

There are literally dozens of issues in the US tax system that are completely indefensible when viewed through the prism of fairness. The Marriage Penalty is one of the worst. Following closely behind is the Alternative Minimum Tax (AMT). As always when our rulers tinker with the tax system, they end up hurting people other than their intended targets.

Whenever they are asked about fixing monstrosities such as this, or at least modifying them to more closely resemble fairness, they fall back on the logic that "they wish they could, but the Federal government just can't afford it." Money for Washington is more important than anything, especially the antiquated concept of fairness.

Here's a short summary of the current AMT fiasco from Fox News. What they forgot to mention was the most active organization that I am aware of fighting to correct this totally screwed up tax, ReformAMT. While you may a have false sense of security that this a tax on "other people," that is a very short-sighted attitude. The AMT is designed so ineptly, such as with no inflation adjustment, that millions more innocent people become subject to it each year. Soon it may be eating up your life savings and forcing you into bankruptcy if you don't start exerting some pressure on our rulers in DC to fix it.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 4/07/2002 09:15:00 PM Send this post: