Tax Day 2007 Sampler: Prime Time for the AMT

As the Alternative Minimum Tax (AMT) threatens to reach 20 million new taxpayers next year, the issue has now reached readiness for prime time on the editorial pages of the nation's newspapers. Below is a sampler from the many editorials on the AMT that appeared on the weekend before Tax Day 2007: The Star Ledger of New Jersey, on what will truly motivate Congress to end the AMT:

read in full

Important Tax Day Readings

Check out this NYT article to find out how much people like you are being audited compared to other people. And see the latest release by Syracuse University's TRAC, which had to sue the IRS to get data that shows that it has been strangely unproductive when it audits large corporations.

read in full

Love That Lucre

You can always count on the Wall Street Journal opinion page to defend anything that rich people do. If all you did was read it, you'd think that whatever is in the interest of the wealthy is also in the interest of the nation. Wealthy people know how to spend money much better than the government. If we just let wealthy people do what they want, everyone will be better off.

read in full

DeMint & Co. to Seek UC on Senate Earmarks Rule

Sen. Jim DeMint (R-SC) and four GOP colleagues wrote Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-TN) yesterday that they want the Senate to take up S. Res. 123, a earmarks disclosure rule. The Senate passed a statutory version of the rule unanimously as part of S. 1, the ethics and and lobbying reform bill adopted 96-2 in January. DeMint and Sens. Coburn (OK), Cornyn (TX), Enzi (WY), and Chambliss (GA) said they will seek unanimous consent next Tuesday to consider the measure. As a resolution, it would become an internal rule of the Senate and, unlike S.

read in full

Why Health Care Is So Expensive In the US

Why are health care costs rising so fast? In the long-term, that is the most important question before the fiscal policy community. The long-term budget imbalance threatens to do great harm to government programs and the economy, and rising health care costs account for ALL of the spending that outpaces revenues for the foreseeable future. Not Social Security, not entitlements, not an aging population- health care programs, driven by rising prices in the private market.

read in full

The Chunk of Your Tax Bill That Just Doesn't Matter

The Chaney Fiscal Theorem, which asserts that Deficits Don't Matter, was the dominant view underlying the tax and budget policies of the nation's governing party for most of this decade.

read in full

WSJ Profile: Maverick Max of Montana

A must-read examination of the challenges facing Senate Finance Committee chair Max Baucus (D-MT) appears in today's Wall Street Journal. Baucus is currently playing a pivotal role in several significant issues, as we have noted, from AMT to S-CHIP, to the minimum wage small business tax, to the estate tax -- taking sometimes sharply ideologically inconsistent positions, harking back to his support for the 2001 Bush tax cuts, which "infuriated other Democrats."

read in full

How Good Was the Post-WW II era?

Craig excerpts an interesting article below that reminds us that there was once a time when the median wage tracked productivity- or, as I like to think, a time when people were paid what they earned.

read in full

Myerson on Circuit City Layoffs

Harold Myerson comments in today's Washington Post about Circuit City's recent payroll reduction program:

read in full

Expeditious Supplemental -- Fur Flies Fast and Furious

After both houses of Congress moved with close to record speed right before recess to pass the president's appropriations request -- the largest in history -- the president wasted no time in pushing everything back to square one by promising to veto whatever might emerge from conference once Congress returns from recess. Today, President Bush appeared to castigate Congress for wasting everybody's time by adding conditions to a funding bill:

read in full

Pages

Subscribe to The Fine Print: blog posts from Center for Effective Government