No. of Recommendations: 21
or AMT, when introduced was supposed to hit a tiny number of people in the country. Now it hits practically every tax payer making over $100K.I don't believe that's anywhere near true. In the TCJA regime a very small number of taxpayers are affected in the $100K+ range. When TCJA expires in 2026, about 20% of $100-$200K taxpayers and 70% of $500K-$1M taxpayers are expected to be affected, which looks inline with pre-TCJA rates (source:
https://www.taxpolicycenter.org/briefing-book/who-...). There are about as as many people in the $100-200K range as in all the higher ones combined (source: other docs on that site) => worst-case maybe 40-45% of $100K+ taxpayers will be affected post-TCJA. Most of us would probably agree that 45% is not "practically every".
Personally I've been earning $100K+ since the turn of the millennium, now nearly twice that, and have never once been hit by AMT. My federal taxes have run right around 19-24% of income the whole time.
It is a small price to pay for living in a (somewhat) functioning civilization with a government that does useful things, not just caters to billionaires and pretends to cater to the rest of the "upper class", who are largely irrelevant unless they can buy a circuit court judge, or at least a Congressional representative.
