The 40% threshold is 150k for SINGLE earners, but only $200k combined for married. So the tax proposal continues the long tradition of soaking 2 income married couples in the federal tax code. So a married couple earning over 300k would pay $4,000 more than if they were single. The best way to eliminate the AMT is simply eliminate all deductions (i.e., flat or graduated flat tax). But of course there are way too many people invested in the current system for that, starting with realtors and accountants.
z | 10.26.07 - 5:41 pm | #