Steve Forbes and Benjamin Powell Discuss the Tax Deal on Freedom Watch
Wednesday December 15th, 2010 • Posted by Emily Skarbek at 10:38am PDT • 1 Comment
On Monday’s Freedom Watch on Fox Business Channel, Judge Andrew Napolitano asks Steve Forbes about regime uncertainty created by Congress and the changing tax system. Independent Institute Research Fellow Benjamin Powell advocates deep spending cuts and making the temporary tax cuts permanent.
Then, in the next segment, Judge Napolitano and Dr. Powell critique the new $4.5 billion Nanny State, federal law (“Healthy Hunger Free Kids Act of 2010″) pushed by Michelle Obama that funds and mandates the foods to be bought and served in public schools. According to Ms. Obama, “We can’t just leave it [food] up to the parents.” Check it out!
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I have one question for the Rich Haters in our Congress and Senate –- If they believe that the extension of the current tax laws are a Tax Cut of the Rich then:
WHY THE HELL DO WE HAVE THE – AMT – Alternative Minimum Tax.
It cost all us money to consider it each year and hangs over the heads of most middle income tax payers, specifically designed to tax the millionaire and billionaires so they pay their fair share. If it works why do we care how low the general tax rates are for them, if they are paying the AMT as a floor?
The Rich – Millionaire – Billionaire is CODE for anyone who pays taxes. If you are paying taxes as opposed to receiving an IRS welfare subsidy then you are RICH, they are just waiting until they create a crisis big enough to change the rules to get you.
Why aren’t we demanding complete repeal of the useless and wasteful AMT tax.