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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Suma who wrote (6631)	12/12/2005 10:38:07 AM
From: JohnM	Respond to of 542169

However, I resent that the AMT has been left to stand. It hurts me very much as a retiree I count on dividends from stock.. I get taxed on what they do to my retirement income.. I keep watching my taxes carefully to see when the AMT will hit me. It should happen soon since I'm able to deduct local property taxes, state income taxes, and mortgage interest. I think the principle behind the AMT is a good one, to make certain that high income individuals who have obscure and socially destructive items in the tax code which benefit them, to make certain they pay a small portion of their share. Best I can tell the problem is, the cut point has simply dropped too low. It could be easily fixed by raising it. But it's like social security, the right sees a small, fairly easily fixable problem and tries to take advantage of it to scrap a socially useful program.