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Monday, September 29, 2008

Congress Set to Adjourn without AMT Relief Bill

The rhetoric never lives up to the actions. The Democrat Congress are set to adjourn for the year without a bill that provides relief to the AMT tax, which will fall on 22 million people next year. I think this is as important as the $700B rescue bill.

My other question is, if this rescue bill is so dire, why don't the Democrats just pass the bill and then take the full credit for passing it? The truth is that this is all about presidential politics. If the bill helps avoid a market crash, great. But the true goal here is to make it appear that we are headed for another Great Depression. If we actually get a Depression, then it's all Bush's fault (despite the fact that Dems control Congress). If we avoid it, then the Dems saved the day.