With all of the recent discussion of the increased number of people being hit with the insane AMT, there has been hope that our imperial rulers in DC will finally do something to alleviate that mess. As Herman Cain points out in this article, that’s not likely to happen because, no matter how unfair and insane the tax is, our rulers will not let go willingly of any source of money for them to spend.

This is exactly like the case of another hot topic on which I have been ranting for decades, the Marriage Penalty built into the tax code. While it isn’t as bad now as it used to be (especially before the new home sale rules), it is still an expensive part of the tax system for dual income couples. While our rulers have given lip service to caring about this injustice, they have refused to actually do anything about it for the simple reason that “they can’t afford it.”

Money for our rulers to spend is just more important than morality or fairness, which is why we shouldn’t get out our hopes too high for an actual repeal of the AMT or the Estate (aka Inheritance or Death) tax, another immoral tax that is justified mainly because of the money it provides to DC, as well as its supporters’ Marxist love of wealth redistribution.

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 4/05/2007 01:20:00 PM Send this post: