Rangel's Tax Bill: Rob from the Rich, Give to the Less Rich
2:37 PM, Oct 29, 2007 • By BRIAN FAUGHNAN
Ways and Means Committee Chairman Charlie Rangel has been promising for months that his legislation to 'fix' the AMT would promote fairness and equity. It already seems to have won strong support from Speaker Pelosi and the rest of the House Democrats.
The Tax Policy Center is a joint effort of the Brookings Institution and the Urban Institute--hardly the sort of conservative groups that would try to tear down Rangel's proposal. If anything, they would be more likely to sugarcoat it.
And to the extent that Democrats argue that tax reform is needed to address inequities in the current structure, they may want to explain why the rich grew to earn so much more under President Clinton, but have not fared so well under the Bush administration.