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Politics : Politics for Pros- moderated
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To: Ilaine who wrote (160881)3/17/2006 5:38:37 AM
From: John Carragher  Read Replies (1) of 793572
 
what the tax cuts giveth, the AMT taketh away.

amt doesn't kick in until you reach certain income.. then you run through a formula to see if some deductions can be taxed by being taxed at the amt rate. i have never qualified to be tax after completing amt.
now all those people who's rates dropped in brackets got real tax cuts. those in 15% dropped to 10%.those is 27% dropped to 25% and i expect most in that group also avoided amt tax.

carry on ...g
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