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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (347930)	8/22/2007 10:32:03 AM
From: Road Walker	Read Replies (2) \| Respond to of 1573988

re: AMT is a trap and not many people will escape it in the future, unless they repeal it. I had heard they were going to do something about that. Did they ever? No, they can't. They would have to take back the tax cut for the top 10%.

To: RetiredNow who wrote (347930)	8/22/2007 11:33:07 AM
From: combjelly	Respond to of 1573988

"I had heard they were going to do something about that. Did they ever?" Are you kidding? Only benefit the middle class? They don't contribute enough to campaigns.

To: RetiredNow who wrote (347930)	8/22/2007 5:42:30 PM
From: TimF	Read Replies (1) \| Respond to of 1573988

I could see an argument for something like an AMT as the sole federal personal income tax. No figuring our your taxes both ways, and pay whichever is more, but one tax without a lot of deductions. The problem (other than the obvious political problems) is the AMT only vaguely resembles that idea. Its not actually so simple, and if you are going to cut out all these deductions you should make the rates lower.