“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx
Apr 23, 2001
Right now, Bush is pushing his giant tax cut program for the rich and the Democrats are supposedly standing up for the little guy. But behind all the media attention, it turns out that Democratic Party senators are hard at work trying to get the Alternative Minimum Tax repealed. This tax is applied only to rich people who have so many deductions that they would pay little or nothing in tax. Only 1.3% of all taxpayers pay this tax, and almost all have incomes from $100,000 to $500,000 a year. For the last thirty years they have had to pay an Alternative Minimum Tax.
If the Democratic senators' proposal goes through, more of the richest people in the country will pay no income tax at all, which is estimated to save them 162 billion dollars over the next ten years. This is how the Democrats fight for working people!