Tax panel recommends eliminating AMT
It's the first decision made by the nine tax experts chosen to analyze the nation's tax system and recommend changes to make it simpler, fairer and more economically efficient.
The consensus to repeal the alternative minimum tax means the panel must replace the more than $1.2 trillion that the Treasury Department expected to collect through that tax over the coming decade. The president instructed the panel to develop restructuring ideas that raise the same amount of tax revenue as current laws.
I am sick and tired of politicians pandering to the populace, essentially telling them that they can pay less taxes and get more services. Bring back the Tsongas Pander Bear.
If this is the panel's first recommendation, I really do not want to hear any more from them. They can't be serious about returning this country to fair taxation, when idle hands were taxed at a lower rate as hard working, struggling laborers. The very idea that those that merely invest get taxed a lower rate than those that actually work for a living is disgusting. This is part of the VRWC that America be the plantation owners of the world.