Friday, October 26, 2007

Some Are More Equal Than Others

So today we hear that a bill for "the mother of all tax reforms" was introduced yesterday.

While it would do away with the Alternative Minimum Tax (which hasn't kept up with inflation so affects middle class families instead of the wealthiest, as was intended), it would slap high-income filers with an additional 4% surtax. Repealing the AMT would save Americans $800 billion over 10 years. Adding the surtax onto the high-income filers would compensate by raising $832 billion over the same 10 years.

It would also increase tax credits for lower-income taxpayers, which they receive even if they don't make enough to pay any taxes to begin with. Essentially, this means they are paid to be a lower-income, non taxpayer.

According to Chuck Rangel, whose bill this is, the changes will "reform the tax code to provide a greater sense of equity and fairness."

To which I reply, A) some are obviously more equal than others and B) fair to whom?

Income redistribution, anyone? No? Well, how about this instead? Real equity and fairness, in spades.

1 comment:

Kerrie said...

Seriously! What do we have to dump in a harbor to get decent change this time?