The Alternative Minimum Tax has been in the news because it is estimated to affect up to 25 million taxpayers next year. It was originally intended to affect only those with high incomes by not allowing deductions that had previously been ruled OK.
But increases in income due to inflation, and the fact that the tax is not indexed to inflation make the law applicable to middle income individuals. Democrats are hesitant to extend relief unless the lost revenue is matched by increased taxes on the wealthy, which of course the Bush Administration opposes. No one wants to talk about this apparently.
