I am sick and tired of everybody claiming the government did a bait and switch on them concerning the hybrid tax credit. There was no switch and bait done. They did not promise a big credit to just take it back. The tax laws are the same today as they were when you bought your car in 2006 (at least any laws that apply to the 2006 tax year).

Everybody keeps atacking the hybrid credit at the evil wrong dooer, but they fail to realise that with all the tax cuts, deductions and credits they are claiming to drop them below the AMT, they are actually paying less than if those cuts, deductions and credits were not there. The hybrid credit can work IF you fall into a category that your tax liability is high. If your tax liability is low, then just be happy that it is low and keep on moving.

Now, I don't like the AMT, but it does keep some people from creating too many tax shelters and reducing their tax liability to rediculiously low levels. The big problem is that once you get over a certain income level, this AMT is not as effective, and those income levels are the ones that have all the silly tax shelters. Most people between the income levels of $50,000 and $500,000 are not the ones with all the tax shelters, but it is the people with incomes above $500,000 that don't pay a good proportional amout of taxes due to the shelters, and the AMT does not hit them as hard as those in the middle section.

So, we sould all be foaming at the moth over the AMT and not the hybrid tax credit. Lets give credit where credit is due.