exceeding $200,000 had paid no federal income tax in 1966. The news created a political restorm. In 1969, members of Congress … minimum tax to prevent wealthy individuals from taking advantage of tax laws to eliminate their federal income tax liability ….Both the original minimum tax and its successor, the individual alternative minimum tax (AMT), have applied in the past to a …

The alternative minimum tax (AMT) is a complex, unfair, and inefficient shadow tax system that threatens to affect 32 … options to finance repeal. One attractive option we consider would be to combine AMT repeal with a four percent tax on AGI in …