Quote:
Originally Posted by TeeSter
It was created to keep the rich from getting out of paying any taxes... unfortunately, with inflation wages and such more and more people who are FAR from rich are falling into it.
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While this may be true, they wouldn't be paying their fair share if there was no AMT. Lets be honest if you have enough deductions to qualify for the AMT you aren't poor.
Its not really the people's fault that are subject to the AMT though its really the unfairness of the tax code. Why should you get deductions for your mortgage interest, for having more kids or pay less on your capital gains?
Without the AMT though there would be far more people living pretty well paying zero or almost no income tax. That isn't going to sit well with the majority of voters who earn less and never need to worry about the AMT.