‘Sunset’ corporate cuts

The “middle-class tax cut” Christmas gift isn’t; it favors high-incomers. More than 90 percent of new U.S. wealth trickles up to the wealthiest – their taxes rise; hard to sympathize. An analysis of our president’s 2005 return indicates that he would have paid $31 million less tax under this new scheme, largely due to elimination of the AMT (Alternative Minimum Tax), which was enacted precisely to counter loopholes available only to high-incomers.

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