{"id":25409,"date":"2007-04-26T01:01:01","date_gmt":"2011-05-19T05:35:36","guid":{"rendered":""},"modified":"2011-05-19T05:35:36","modified_gmt":"2011-05-19T05:35:36","slug":"talkin_about_amt_revolution","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2007\/04\/26\/talkin_about_amt_revolution\/","title":{"rendered":"Talkin\u2019 About AMT Revolution"},"content":{"rendered":"<section>\n<p>RUSH: Wendy in Fair Oaks, California, suburban Sacramento, nice to have you with us.<\/p>\n<p>CALLER: Thank you very much.<\/p>\n<p>RUSH: You bet.<\/p>\n<p>CALLER: I have been really, really angry ever since you <a xhtml:id=\"\/content\/home\/daily\/site_042607\/content\/01125108\" href=\"\/\/\/home\/daily\/site_042607\/content\/01125108.html\">talked about<\/a> the highest tax receipts ever going to the government in April.<\/p>\n<p>RUSH: Yes.<\/p>\n<p>CALLER: And my husband and I are two of the people that helped have record receipts because of AMT. My husband and I are not wealthy. We work hard, we\u2019re workers. And the liberal media shouting that these rich people don\u2019t pay taxes is a joke. I feel so victimized by our government, and so powerless, you could make a revolutionary out of me, and I\u2019m a very mild person.<\/p>\n<p>RUSH: I can hear the revolutionary intonations in your voice. I recognize the Fair Oaks accent.<\/p>\n<p>CALLER: Oh, good. Yes. <\/p>\n<p>RUSH: Now, this story, Wendy, you\u2019re right. I mean, the Drive-Bys try to make it sound like the rich aren\u2019t paying their fair share and they\u2019re not paying enough because they\u2019ve got too much left over after they pay, it\u2019s just not right. Now this story that\u2019s reported, US tax receipts from individuals hit a record one-day high of $48.7 billion on April 24th. And the analysis of this from the chief economist at Wrightson ICAP in Jersey City said, well, this reflects the fact that Americans in high income brackets had a very good year in 2006.<\/p>\n<p>CALLER: And can I object?<\/p>\n<p>RUSH: Well, of course because &#8212;<\/p>\n<p>CALLER: What it means is they\u2019re taking more money out of me because of AMT. They\u2019re taking more money. They take higher &#8212; my capital gains tax is higher because of AMT. I paid an additional $8,000 because of AMT. It\u2019s not about it being a good year, it\u2019s about the government being able to take money from us worker bees.<\/p>\n<p>RUSH: And the number of people that fall victim to the AMT &#8212; alternative minimum tax, rises every year. <\/p>\n<p>CALLER: Right.<\/p>\n<p>RUSH: You know, there\u2019s no longer a thing called bracket creep in income tax because they now index for inflation.<\/p>\n<p>CALLER: Right.<\/p>\n<p>RUSH: But they don\u2019t do that in the AMT and that\u2019s why more and more people are falling into the trap of being caught. The alternative minimum tax was created whatever year, some years ago for a specific reason. There were 23 millionaires that didn\u2019t pay any income tax in whatever year it was, and that news caused conniption fits out there. So the alternative minimum tax was devised in order to make sure that somebody, everybody paid something. It was a tax designed to get 23 families, 23 people. Now it\u2019s lassoing hundreds of thousands, millions, and soon to be multiple millions, and there\u2019s no mad dash to do anything about it because it does generate so much revenue to the federal treasury. By the way, if you\u2019re concerned about this, Wendy, I\u2019ll guarantee you one thing, not only is the AMT not going to change, but the Bush tax cuts are going to sunset, and the Democrats aren\u2019t going to do anything about that if they get back in power in the White House. Elections matter, folks. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: Wendy in Fair Oaks, California, suburban Sacramento, nice to have you with us. CALLER: Thank you very much. RUSH: You bet. CALLER: I have been really, really angry ever since you talked about the highest tax receipts ever going to the government in April. RUSH: Yes. CALLER: And my husband and I are two [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Talkin&#039; About AMT Revolution - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2007\/04\/26\/talkin_about_amt_revolution\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Talkin&#039; About AMT Revolution - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Wendy in Fair Oaks, California, suburban Sacramento, nice to have you with us. 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