Re: Got an extra $28,000?
Posted: May 11, 2006 3:02 pm
I have finally hit the bracket where I have to spent an extra 20 minutes going thru the tortuous approach of the AMT, only to find that (just as suspected), it doesn't apply.Quiet and Shy wrote:The revenue has gone up because the Alternate Minimum Tax hasn't been adjusted...it used to hit the top 5% and now it includes the top ~25%?? So the rumored tax cuts are really hot air.LIPH wrote:That's a common misconception, but since the tax rates went down tax revenue has gone up. It happens almost every time there's a tax cut. The problem is we have a government full of politicians, on both sides of the aisle, who love to spend every dollar they have, and a lot more they don't have.RinglingRingling wrote:taking in less money, ...
And oh, do they spend....
However, if they indexed/adjusted the floor of the AMT back to where it should be (under the original intent of the legislation creating it), the deficit would be even greater.
I also would like to see the numbers on the effect of a cut, and how that results in more revenue. It does seem like at some point there is a break-even, then a severe collapse on the beneficial effect.
