THE BIG CRASH BETWEEN AMT AND SCHIP

Dick Army gave me a chuckle this morning. He noted that the AMT was invented by Democrats in their attempt to tax the rich and the SCHIP program was invented to give healthcare to the poor. Today, the problem is that the most recent expansion to the SCHIP program would make some people eligible for both the AMT and the SCHIP! Government madness gone wild!

REPLACING FALSE REVENUES

Again, my concern is that people might buy into the concept of raising taxes in order to replace lost AMT revenues. How can the AMT revenues be lost if they were never collected and were never intended to be collected from the 20 million or so families that will be caught in the AMT trap for the first time this year?

The best way to "patch the AMT" is to suspend the pay-go rules. Government revenues are growing by leaps and bounds, no need to add new taxes now.