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

To: Brumar89 who wrote (605056)	3/24/2011 6:31:03 PM
From: J_F_Shepard	Read Replies (2) \| Respond to of 1575764

"If they could confiscate ALL the wealth of all the billionaires," Do they stop working? If they only made about 60K they wouldn't have to pay any taxes....think we'd get any takers??

To: Brumar89 who wrote (605056)	4/1/2011 1:08:26 PM
From: Brumar89	2 Recommendations Respond to of 1575764

In my experience, the AMT is almost impossible to avoid. I slashed my dividend income and capital gains/losses outside tax-sheltered accounts to a few thousand dollars in 2010 vs what it had been in 2009 (everything else on our return in 2010 was salary!) and was still hit with $1300+ in AMT tax. And this AMT monstrosity was created over a fake news story decades ago about millionaires (in income) avoiding any tax liability. When liberals talk about taxing the rich, they ARE talking about taxing YOU someday.