Congress derails extra rich tax


	Congress derails extra rich tax

melizer

12-19-2007 6:38 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f6c2776d-af64-45c3-bea2-7efa5ebb2377/3B60134F-CFA7-4DF1-8064-F4E6BCB17500/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.yahoo.com/s/ap/20071219/ap_on_go_co/congress_taxes" href="http://news.yahoo.com/s/ap/20071219/ap_on_go_co/congress_taxes" style="font-size: 11px;">news.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071219/ap_on_go_co/congress_taxes">More than 20 million families will be spared an extra $2,000 tax hit on average after Congress excluded them from a higher alternative tax originally aimed at untaxed multimillionaires.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071219/ap_on_go_co/congress_taxes"><P>One-year fixes have become an annual congressional ritual for a tax that was enacted in 1969 to catch a small number of very rich tax dodgers but has come to entrap many more people because the tax was never adjusted for inflation. The tax has alternative, more stringent rules for claiming deductions. Many of the beneficiaries of the AMT fix are people with incomes in the $75,000 to $200,000 range.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20071219/ap_on_go_co/congress_taxes"><P>"We are presently borrowing from foreigners a little over $20 million an hour," said Blue Dog leader <SPAN id="lw_1198105838_8" class="yshortcuts">Rep. John Tanner</SPAN>, D-Tenn. "When in the name of all that is holy are you going to stop?" he asked Republicans.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/3B60134F-CFA7-4DF1-8064-F4E6BCB17500/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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