Monday, April 08, 2002

More from Fox News and Brit Hume:

The alternative minimum tax is confusing and unfair and in a few years will affect a third of all taxpayers. The IRS wants to scrap it, but Congress says it can't afford to. It's a really stupid tax, designed to make sure that rich people always pay some tax. There are some people who received huge bonuses in dotcom stocks that are now worthless, but because of the AMT, they still owe the tax on the value of the stocks when they received them.

A second item, the President wants Congress to pass a bill to assure Terrorism Insurance will be available in the future, but the Senate has bottled it up because it contains a cap on damages which the Trial Lawyers are opposed to. The next time one of my Democrat friends tells me they're the party for the working man, I want to hear his explanation for this one.

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