20 June 2005
An alternative alternative minimum tax
The H.O.T. Tax, or Higher-rate Optional Tax, would give those who think their levies are too low the ability to pay the steeper tax bills they say they deserve. This is the truly compassionate thing to do.
The H.O.T. Tax would offer relief to powerful Democrats and wealthy liberals who cannot stand it when Republicans cut their taxes.
Determining the amount of this tax would be simple:
The IRS simply would add a small box to the 1040 tax form beside these words: "If you believe you should be taxed at a rate above that assigned to your income bracket, please indicate here the higher rate you prefer. Kindly calculate your tax liability, and send it in."
With that easy step, congressional liberals and residents of Malibu and Martha's Vineyard no longer would have to keep the tax cuts conservatives keep throwing their way. Instead, they could send 50, 75, or even 99 percent of their incomes to Washington, so the GOP, Congress, and President Bush can spend it even better than they can.
And God knows the GOP, Congress, and President Bush have no trouble spending it.
(Via Kim Du Toit.)Posted at 9:00 AM to Political Science Fiction
TrackBack: 9:15 AM, 20 June 2005
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