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Alternative Minimum Tax
AMT could get you, just as it does wealthy individuals
The alternative minimum tax was signed into law by President Richard Nixon in 1969. He signed the tax bill in response to IRS statistics indicating that as many as 150 high-income households had not paid any federal taxes.
LARRY DeBOER: Looking over the fiscal cliff
Economics is not an experimental science. We can't say to Congress, "Honorable ladies and gentlemen, please drastically raise taxes and cut spending all at once so we can measure the effects on the economy of changes in the federal government's budget." This is not what elected officials do.
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