Heavy Lifting - thoughts and web finds by an economist
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Friday, May 27, 2005

Repeal! Repeal! Repeal!

Here in North Texas us economists are jumping on (or helping to pull) the bandwagon to repeal the Wright Amendment. Legislation in Washington has been passed to do just that. Way to go!!

Here's another target for repeal. The Alternative Minimum Tax. Here's why:



From this report at the Tax Foundation - good job fellas!!

Comments:
Given the garbage that comes out of Congress, the AMT may be better than any tax reform that can pass both houses. It's pretty close to flat rate and has a broader base than the existing income tax. Among the deductions disallowed by the AMT is state and local taxes--a subsidy to large govt blue states.

Frank
 
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