Will the Dems use Edward's universal health money (ending the tax cuts for the rich) to give a tax

[papau]

cut to the richer portion of the middle class - by amending the Alternative Minimum Tax to shift the burden back on the upper echelon of wealthy Americans?

Democrats look to shift a tax back to the rich
Plan to overhaul '69 provision has GOP hackles up

By Rick Klein, Globe Staff |
March 7, 2007

House Democrats came into power this year promising "pay-as-you-go" budgeting, meaning that any action that drains revenues must be offset with a spending cut or revenue increase.

With the president's 2001 and 2003 tax cuts disproportionately benefiting the wealthy, Democrats are exploring ways to scale back those cuts to pay for cuts in the AMT, House Ways and Means chairman Charles Rangel said Sunday on Fox News Channel.

"We may be talking about redirecting those tax cuts," said Rangel, a New York Democrat. "And so, within the system, there can be more equity."<snip>

<snip>The biggest obstacle to changing the system has been expense: Repealing the AMT would cost between $800 billion and $1.5 trillion over the next decade. Neal has long favored a total repeal, though some Democrats and interest groups are urging only a partial repeal aimed at shielding the middle class. Neal said all options are being considered by his committee.<snip>

[silverojo]

1. K&R! n/t