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4 Replies | Page 1 of 11 | Top of Page | Bottom of Page

............and now Conrad supports this!!

by Old Jake , Posted to Fishing Buddy on 04/22/2010 11:54 PM | "Quote" | "Quick Reply" |
Old Jake

Joined: 02/18/2008
Location: ND
I see our illustrious Sen. Conrad is now talking about letting the AMT increased income exemptions expire. For those of you who aren't familiar it was instituted way back when to penalize the "rich". Only problem is that permanent increases for inflation were never implemented. So every year congress must reauthorize the higher income exemption levels. This year I think only couples making more than 70k (adjusted gross income) were subject to AMT. If they let this expire, I believe the level will drop down to around 40k. Like the article states, a huge tax increase for most middle class Americans. But I thought Obama pledged nobody making under 250k would see a tax increase? Oh wait, I guess he is now saying he only meant an increase in "income" taxes. It seems to me the AMT IS income tax. WTF. Someone wake me from this nightmare!!!
www.bismarcktribune.com/news/state-and-regional/article_48d0f124-4e3d-11df-b73d-001cc4c002e0.html
Re: ............and now Conrad supports this!!
by Goth on 04/23/2010 07:12 AM | Reply #1 | "Quote" | "Quick Reply" |
Goth
Joined: 06/09/2009
Location: ND
Maybe I am miss reading this but............




...............Specifically, the Senate measure assumes Congress will generate almost $400 billion in revenue increases over 2012-15 to protect middle- and upper-income taxpayers from the alternative minimum tax, or AMT. Almost $100 billion more over the same four-year period would be required to extend estate tax relief at 2009 levels exempting estates of up to $7 million from inheritance taxes.



..........Protect you from 1 tax but kick you in the backside with others
Si vis pacem, para bellum   -   If you seek peace, prepare for war
Re: ............and now Conrad supports this!!
by eyexer on 04/23/2010 3:08 PM | Reply #2 | "Quote" | "Quick Reply" |
eyexer
Joined: 02/28/2007
Location: ND
and when has Obama kept his word.  A liberal has never met a tax they didn't like.
Re: ............and now Conrad supports this!!
by "comin in" on 04/23/2010 3:37 PM | Reply #3 | "Quote" | "Quick Reply" |
"comin in"
Joined: 11/07/2007
Location: ND
It won't be long and nothing will be tax exempt.  How many more years?????
Re: ............and now Conrad supports this!!
by cynical on 04/24/2010 08:33 AM | Reply #4 | "Quote" | "Quick Reply" |
cynical
Joined: 10/27/2004
Location: ND
liberals have a high tolerance for your misery
"The only enemy of guns is rust and politicians."
“You can roll manure in powered sugar but it still ain’t a jelly donut”

"The best defense against usurpatory government is an assertive citizenry."

William F. Buckley, Jr.
"Unarmed helplessness is for sheep and the French."  Ted Nugent
4 Replies | Page 1 of 11 | Top of Page | Bottom of Page
Posted By: Old Jake
Posted On: 04/22/2010 11:54 PM
884 Views, 4 Comments
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