It makes the tax code a little simpler for individuals by repealing the AMT after 2007 and expanding the standard deduction, and a bit simpler for businesses, who will trade
unnecessary tax breaks for a lower corporate tax rate. The bill’s corporate loopholeclosing measures would enhance the economy overall because fewer business decisions would be made for tax reasons (to exploit loopholes) rather than sound
economic reasons. It makes the tax code fairer by providing a larger standard deduction and tax credits low-income working people and by scaling back the Bush tax cuts for the wealthy.
Finally, the bill stops the dangerous pattern of the Bush administration of cutting taxes more and more and putting the cost on the national credit card. Instead, the bill pays
for the tax cuts it provides to the vast majority of Americans in a responsible way.
http://www.ctj.org/pdf/rangelbill.pdf
Thoughts?
2007-11-09
08:27:58
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8 answers
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asked by
It's Your World, Change It
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