WTF is this AMT nonsense? (taxes)

[frommagio]

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2005: 4 million people are covered by the AMT.
2006: 19 million people will file under the AMT!

NOT INDEXED FOR INFLATION !!!! [/quote
First of all, it is not 2006 taxes yet, it is 2005 taxes.

Second of all, this great increase in more people being affected by AMT is due to the expiration of the increased exemption amount from the 2001 tax cut, and is not due to inflation.

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Sorry, but this is simply pure ignorance. The rising tide of AMT is caused directly by the fact that the original AMT limits were not indexed to inflation, and have not been revisited. The 2001 tax cut did not affect AMT at all.

May you soon experience the joy of AMT, and may you then know the truth.