Feds Raise Taxes; WaPo Provides Cover

I don't know why, but it always surprises me when the Washington Post feels obligated to aid Congress in their continuing efforts to confiscate every dime in America. Today's WaPo has a front pager, soothingly titled "House Passes Bill to Ease Alternative Minimum Tax." How lovely. Wouldn't you like to have your tax bill eased? I know I would. Problem is, that's not what Congress is up to. They are unhappy that wealthy private equity fund managers receive much of their compensation in the form of capital gains. The tax on capital gains is much lower than the tax on income, so although the compensation scheme is entirely legal, Congress wants you to believe that it's unfair, apparently because many private equity fund managers make huge amounts of money. What Congress wants to do is redistribute money from wealthy fund managers to the middle class and the poor. You can argue about whether this is a good thing or a bad thing, but WaPo should not try confuse people about the issue. While we here at DCPN generally frown on class warfare, we encourage private citizens to give to the poor, which, if you are so inclined, you can do here.