Posted: Jul 21, 2005 By: Eddie Hamm

Subject: Alternative Minimum Tax Alternative!!

Comment: I understand the tax reform panel is going to recommend that Alternative Minimum Tax be repealed. Trouble is, it will mean loss revenues of over one trillion dollars over the next ten years. Now we all know that cutting government spending is out of the question .... so the only solution will be to raise taxes elsewhere. In fact, commission chairman Connie Mack (R-Florida) has said that options include raising other tax rates or eliminating various tax exemptions and deductions. Both avenues, of course, constitute tax increases.

There is another solution --- the FairTax. H.R. 25, The FairTax Bill, repeals the alternative minimum tax ... along with the income tax, payroll taxes, death taxes, corporate income taxes .... and much more. This problem can be solved without raising taxes or eliminating exemptions and deductions. Just get the FairTax enacted --- AMT gone --- problem solved!!!