Quote:
Originally Posted by BenderX
That's a pretty skewed definition of "fair". The top 1% of income earners (AGI > ~$365,000) pay as much tax as the bottom 95% of income earners, and repealing the AMT wouldn't change that by much. Over 40 million of the 130 million tax filers paid no tax or got money back without paying anything via credits.
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I call BS here. Show me that stat. From what I've read at the Congressional Budget Office, which is non-partisan, its more like the top 1% pay 28% of all income taxes.
http://www.factcheck.org/askfactchec...s_the_top.html
I don't think the intent was to help consumers with this credit but rather to help manufacturers move vehicles to recover some of their cost of development. If the incentive applied to only 2/3 the potential market then that would be enough to have the intended effect. Fair? Not quite, but is anything in the tax code?