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Archive for June 12th, 2011
Looking at the Insane AMT
Posted by taxguru on June 12, 2011
Here is a good review of the insane and idiotic Alternative Minimum Tax, which was originally designed to nail 155 wealthy taxpayers and now hits around 4.5 million people who claim too many deductions.
While most of our rulers acknowledge that this tax has gotten completely out of control and is immorally unfair, they can’t bear to part with the money it generates. For politicians, money for their pet projects is more important than fairness, and they will take it any way they can get it.
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Tax Guru - Ker$tetter Letter 