Political Quotes

“the middle class is hurting. They are facing tough decisions over rising gas, food, and health care prices. Adding to their economic dilemma, the Alternative Minimum Tax, AMT, may reach many of them this coming year. Today, we will vote on H.R. 6275, the Alternative Minimum Tax Relief Act of 2008, which would provide relief to middle class taxpayers by avoiding the AMT. The original intent behind the AMT was to guarantee that the wealthiest Americans paid their fair share of taxes. However, the AMT was not adjusted for inflation and hard-working Americans were lumped into this tax. Today, the Congress must act to prevent 25.6 million middle income Americans being liable for paying thousands of dollars in additional taxes. Restructuring the tax code will more fairly distribute the tax burden. H.R. 6275 will tax private equity managers, who actually pay lower taxes on carried interest and repeal unnecessary Government subsidies for the big five oil companies reaping record profits and on multinational corporations who offshore their businesses for the express purpose of tax avoidance. It is unconscionable that our tax code allows these corporations to avoid taxes while hard-working Americans get hit with a stern tax and pay extremely high gas prices at the pump. This legislation closes these major tax loopholes. H.R. 6275 restores America's tradition of giving a helping hand to those in need.”