Sunday, November 25, 2007

Collins Calls for Higher Taxes?

Apparently so. (Via Maine Democrats.)

Although you have to wonder why BDN snuck the article's most interesting revelation into the nineteenth paragraph of a twenty-one paragraph story:

Sen. Susan Collins, R-Maine, expects there will be a temporary patch of the AMT this year, even though she supports a permanent repeal of the tax. She said a better way to assure upper-income taxpayers pay more in taxes would be to set higher rates for them instead of using the AMT.
Let's unpack this.

Collins wants to permanently repeal the Alternative Minimum Tax, which the article says will hit about 85,000 Mainers this year.

And she wants to pay for it with higher rates for "upper-income taxpayers."

Fair enough: It's a perfectly legitimate position to take. But it's an extraordinarily strange stance for someone who's voted for every single one of President Bush's giant, budget-busting tax cuts for the super-rich.

Does Collins now regret those votes? Is she ready to repudiate them?

BDN reporter Mal Leary doesn't seem to have asked those questions. But someone better: Repealing the AMT will cost approximately $800 billion over the next decade.

That comes to more than $2500 for every man, woman and child in America. Not exactly pocket change.

So if Sen. Collins wants to close the gap by raising taxes on "upper-income taxpayers" Mainers deserve to know exactly which taxpayers she has in mind.

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