Rangel Making History
By Robert D. Novak
WASHINGTON -- Meeting reporters at breakfast last week, Secretary of the Treasury Henry Paulson set as his tax priority a "patch" to slow the runaway Alternative Minimum Tax (AMT). The former investment banker acted as though he were oblivious to plans by Rep. Charles Rangel, chairman of the House Ways and Means Committee, to turn the need for such a temporary tax fix into the most radical left-wing tax revision in half a century.
WASHINGTON -- Meeting reporters at breakfast last week, Secretary of the Treasury Henry Paulson set as his tax priority a "patch" to slow the runaway Alternative Minimum Tax (AMT). The former investment banker acted as though he were oblivious to plans by Rep. Charles Rangel, chairman of the House Ways and Means Committee, to turn the need for such a temporary tax fix into the most radical left-wing tax revision in half a century.
When one questioner asked whether Paulson contemplated recommending a presidential veto of AMT legislation, he indicated astonishment at the very idea. His only stated concern was that Congress this year had not patched the AMT, originally intended to catch tax-evading millionaires, to prevent it from wreaking havoc on middle-income Americans. Paulson uttered not a word about what Rangel is up to.
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