Quote:
Originally Posted by MrCrank
I would have done that but I paid cash for my car. First time I ever did.
Anyway, the AMT used to be a way for making sure rich people would pay some tax regardless of all the loopholes they could find, but it has extended its reach wayyyyy down now. Congress isn't going to act; the gov't is short of revenues already and don't let anyone tell you that cutting taxes increases government revenues. That's a fantasy.
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Actually, the AMT has simply "stayed the same". Unfortunately, the "effect" is that it is hitting more and more people simply because it has never been adjusted for inflation. There are candidate's aware of this issue and some are proposing steps to correct the error. I'll leave the discovery of which one is wiling to address this alone as I don't like political banter on non-political forums.