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Dems Want More Taxes To Replace AMT

From, of all places, the Associated Press:

Millions face tax increases under Dems budget plan

By Andrew Taylor, Associated Press Writer Wed Apr 21

WASHINGTON – President Barack Obama’s Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the alternative minimum tax.

The alternative is tax increases elsewhere in the revenue code averaging up to $100 billion a year after 2011 to continue alternative minimum tax relief and also curb taxes on people inheriting large estates.

The Democratic plan released Wednesday by Senate Budget Committee Chairman Kent Conrad of North Dakota relies on such boosts in revenues to carve the deficit from $1.4 trillion last year down to $545 billion by 2015

Conrad says lawmakers will have to find revenues elsewhere in the budget to pay for AMT and estate tax relief after 2011, which could require tax increases averaging up to $100 billion a year elsewhere in the code if Congress is going to keep its promises under tough new budget rules

"If we want those things taken care of … they’ve got to be paid for," Conrad said

Typical, is it not?

This article was posted by Steve on Thursday, April 22nd, 2010. Comments are currently closed.

5 Responses to “Dems Want More Taxes To Replace AMT”

  1. U NO HOO says:

    “”If we want those things taken care of … they’ve got to be paid for,” Conrad said…”

    Finally, the Democrats want to pay for things.

  2. proreason says:

    Should we thank Obamy now, or wait until we are formally paying all the new taxes?

  3. Reality Bytes says:

    Hmmm. Tax Slave – how about Tax Slut T shirts for Obama & Congress?

    Sorry –

  4. Right of the People says:

    “If we want those things taken care of … they’ve got to be paid for,” Conrad said…

    What if we don’t want these things? What do we do then? Some should ask this idiot from North Dakota that question.

  5. Mithrandir says:

    G.O.P. = Government of Peter, as in “Robbing Peter to Pay Paul.”

    Obama’s rallies are nothing but a huge collection of “Pauls” who are giving the Nazi salute, but with palms UP, waiting for their handouts.

    Sick of government yet?

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