Here’s one frustrating bit of disinformation that runs all through this Newsweek piece that otherwise has some pretty good info on the payroll tax burden and the rampaging alternative minimum tax: that capital gains somehow must be double or even triple taxed for the tax code to be “fair.” The author basically snickers at the idea that allowing capital to grow in the private sector has any positive effects for society. Utterly bizarre.
Speaking of the AMT, I just found out from our tax lady that we’ll be paying it this year. Thanks so much state of Maryland. You see Maryland’s taxes are so high that when combined with all the mortgage interest deductions you rack up when you buy and sell a house it triggers the AMT.
Just another little goody that flows from higher state and local taxes. Surely North Carolina will never go that route. Right?
Hello? Is this thing on?
