fiestadeac
Member
- Joined
- Mar 31, 2011
- Messages
- 214
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Don't know if anyone saw this yet.
http://www.bloomberg.com/news/2012-...on-fiscal-cliff-comes-from-alternate-tax.html
If Congress doesn't make action on the fiscal cliff the number of people who pay the AMT jumps from 4.4 to 32.9 million. Since this isn't being adjusted for inflation it affects a large number of people if you couldn't tell. I believe (could be wrong about this # for the current year) that the cutoff is individuals who make over $175,000, they pay an additional 26% after state and federal taxes.
Look I'm no where close to this cutoff but that's ridiculous. If you are in a state like NY, NJ, or CT you're in trouble even though that salary doesn't make you that ultra wealthy in those states. I hope that you all see the need to fix this whichever way you lean and that our politicians on both sides of the aisle put their petty differences aside and get rid of this BS
http://www.bloomberg.com/news/2012-...on-fiscal-cliff-comes-from-alternate-tax.html
If Congress doesn't make action on the fiscal cliff the number of people who pay the AMT jumps from 4.4 to 32.9 million. Since this isn't being adjusted for inflation it affects a large number of people if you couldn't tell. I believe (could be wrong about this # for the current year) that the cutoff is individuals who make over $175,000, they pay an additional 26% after state and federal taxes.
Look I'm no where close to this cutoff but that's ridiculous. If you are in a state like NY, NJ, or CT you're in trouble even though that salary doesn't make you that ultra wealthy in those states. I hope that you all see the need to fix this whichever way you lean and that our politicians on both sides of the aisle put their petty differences aside and get rid of this BS
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