Make this our cause, it is the fair thing to do.

Make this our cause, it is the fair thing to do.


http://online.wsj.com/article/SB10001424127887323741004578414402175056688.html


"They keep coming back, like the villains of a good zombie movie, chanting "more taxes, more taxes." Long ago, Congress passed the alternative minimum tax, or AMT—a simple flat rate to ensure that in an insanely complex tax code, no one escapes paying something. Now we need an alternative maximum tax as a simple, rough-and-ready way to limit the tax zombies' economic damage. Call it the AMaxT."

What should the AMaxT be?
"I like half, but the principle matters more than the number". "each of us gets to add up everything we pay to government at every level: federal income taxes, yes, but also payroll (Social Security, Medicare, etc.) taxes, state, city and county taxes, estate . . . ."
"On April 15, once this total hits the alternative maximum tax, you've done your bit and federal income taxes can take no more. " (bloggers note: once the Feds hit the limit on individuals, I would send the balance of the bill to the state where he resides, let the struggle be more evenly matched, it is only fair)

This puts a penalty once and for all on the excessive takers.


"So the AMaxT is most important for the backstop promise it makes to young people and entrepreneurs. Yes, start a company, go to school, work hard, invest, hire people. We guarantee you that no matter what happens, no matter how loud the zombies chant, no matter what clever "revenue enhancers" they come up with, you will get to keep some reasonable fraction of what you earn. Go for it."


Sent from my iPad