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Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: SI Bob who wrote (125896)11/30/2006 12:56:55 PM
From: Augustus Gloop  Read Replies (1) | Respond to of 225578
 
The IRS wants to participate in all of the upside of your risk. But if you take a loss they don't want any part of it. Its total BS



To: SI Bob who wrote (125896)12/1/2006 10:01:25 AM
From: Alan Smithee  Respond to of 225578
 
Thanks to AMT, it's entirely possible to have a tax bill larger than the amount of money you actually made. The IRS taxes you on how much you could've made if you were smart or lucky.

Deja vu all over again.

I was at a seminar last night where the speaker made the exact same point.

WRT AMT, increasing numbers of middle class folks are getting hit with it. Instead of calling it "Alternative Minimum Tax," it should be known as "Mandatory Maximum Tax."


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