The AMT: What's Wrong and How to Fix It
The alternative minimum tax (AMT) is a complex, unfair, and inefficient shadow tax system that threatens to affect 32 million taxpayers by 2010, many of them solidly middle class. Under current law, repealing the AMT without offsets would cost more than $850 billion through 2017. This paper summarizes the current and projected effects of the AMT and considers options to finance repeal. One attractive option we consider would be to combine AMT repeal with a four percent tax on AGI in excess of $200,000 for married couples and $100,000 for others.
Year of publication: |
2007
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Authors: | Burman, Leonard E. ; Gale, William G. ; Leiserson, Greg ; Rohaly, Jeffrey |
Published in: |
National Tax Journal. - National Tax Association - NTA. - Vol. 60.2007, 3, p. 385-405
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Publisher: |
National Tax Association - NTA |
Saved in:
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