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Originally Posted by Cannon Shell
I dont believe that AMT is necessary but if it is going to stay (mostly for political reasons because god forbid anyone be seen as helping the "rich") than it absolutely should be adjusted to modern income levels.
How can you say that $250k is the number at which it is ok to add burden? Especially considering the wide gap in CoL throughout the country? Surely a family living in manhattan versus a family living in Montana is an important factor?
My racetrack analogy isnt off, what is the difference? Raising takeout is akin to raising taxes because in theory the extra takeout is used to make improvements or added to purses to put on a better product. But as in govt, that rarely happens and in the end all it succeeds in is taking money that would add to handle (the economy) out of circulation which shrinks handle.
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I dont think you read my response at all. I said that AMT is necessary and perhaps it could be altered. If not for AMT, there are many multi millionaires that could make their effective tax rates below 20%....Less than your average middle class worker. Is that fair?
As for the 250k, it really is hard to come up with a number. I guess they settled on a number that was about four times the median household income. It would probably be better if families in areas like mine or new york, etc could work off of some kind of sliding scale.
My point about "handle" was that its not just democrats bitching about it. Everyone does.