The Dems passed relief for some from the AMT - but they turn around and increase other taxes - such as the capital gains tax

Smart move if you want to decrease investments

This is just the beginning. Dems have a $1 trillon dollar tax increase bill waiting in the wings

Now it has to pass the Senate. If it does, it willl be DOA when it gets to pres Bush's desk


House passes relief from AMT
By S.A. Miller

House Democrats narrowly passed legislation yesterday that would spare middle-class families from the alternative minimum tax (AMT) this year, overcoming Republican objections that it "pays for" the relief by raising others' income taxes and sets up future tax increases.

It passed in a near party-line 216-193 vote, with eight Democrats and 185 Republicans opposing the measure. No Republicans voted for passage.

The bill faces significant opposition in the Senate, and is overshadowed by a veto threat from President Bush because it offsets middle-class tax breaks with $81 billion in new taxes on Wall Street fund managers.

House Speaker Nancy Pelosi said the Temporary Tax Relief Act of 2007 ended the Bush era of tax cuts for the rich at the expense of the middle class.

"Today we reverse that [with] tax cuts for the middle class paid for by the wealthiest people in our country," the California Democrat said. "This legislation will ensure that our children will not inherit a legacy of debt."

She declared that the "Democratic Party is the party of fiscal responsibility."

for the complete article

http://www.washingtontimes.com/apps/...111100031/1001