Intel Strategy for Achieving Wealth and Off Topic Message Board

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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic

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Oct 30 3:59 PM EDT

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To: William Hunt who wrote (26897)	5/3/2001 2:30:04 PM
From: David R	Read Replies (2) of 27012

My thoughts on the tax reform that is needed. 1) Eliminate AMT or raise the kick-in from $50k to $250K. $50K was a lot of money in 1969. 2) Eliminate the itemized deduction phase-out or raise the kick-in to $250K. In 1993, when enacted, 128K was a decent amount of money, and a couple in SV could buy a house (FOR ~$250k) with combined income of $120K (I know, I did). Today, the same couple would probably earn $180K but a house costs $600K. THey will get creamed on interest and tax deduction due to deduction phase-out (not to mention AMT). 3) Raise the estate tax minimum to 1.5M for basic assets, and $5M for a working farm or business. After that, gradually phase into max of 50%. 4) Adjust the tax rates and exemptions to account for the inflation of the last 10 years. I don't suppose that the Democrats or Republicans have any interest in a real "middle class tax cut" <sigh>

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