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Poll: Do you favor the abolishment of the AMT tax?
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Do you favor the abolishment of the AMT tax?

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  #11 (permalink)  
Old 03-03-2008, 12:57 AM
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Congress needs to revamp the AMT and allow indexation and raise the limits.

We have got to convince Congress to revamp the AMT and at least index it to inflation, and raise the exemptions. This way it will stop the taxes of hitting more middle class americans!



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  #12 (permalink)  
Old 03-03-2008, 11:13 AM
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Question What is AMT?

I guess you should list what this is since I have no clue or may have heard about it but just didnt realize it was called AMT.

Thanks.



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  #13 (permalink)  
Old 03-04-2008, 10:44 AM
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Do you favor the abolishment of the AMT tax?

I just read somewhere that "the AMT will hit 3.6 million out of the nation's 131 million taxpayers filing for tax year 2005, and could affect 31 million by 2010 if nothing is done."

We are so over-taxed its amazing there is "No outcry" about the high tax rates in this country!

I vote to affirmatively to scrap this tax!



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  #14 (permalink)  
Old 03-04-2008, 08:23 PM
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Do you favor the abolishment of the AMT tax? NO!!!!

I think the Rich should pay their fair share of the taxes! They have had too many tax breaks in the past!

Even Warren Buffet says the RICH should pay more!



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  #15 (permalink)  
Old 03-04-2008, 08:33 PM
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Thumbs up Do you favor the abolishment of the AMT tax?

I certainly agree with most members who have expressed their displeasure at this atrocious tax! Its affecting me in a significant way, and instead of getting a tax refund I have to fork out a few thousand dollars when I file my tax return!

I am really upset about this tax and the new Congress MUST fix this tax ASAP!



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  #16 (permalink)  
Old 03-05-2008, 06:53 PM
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Do you favor the abolishment of the AMT tax?

Judging by most peoples opinion and the votes, why even bother debating about this matter, Congress should immediately act upon our advise and do away with this tax! Period!

I dread this tax!



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  #17 (permalink)  
Old 03-05-2008, 11:06 PM
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I agree about the general mood of the members regarding the AMT tax, it is a really bad tax and affecting millions of middle class americans. But, folks thing about it, how are we going to replace the lost revenue??

Are we going to increase Corporation Tax? Do away with Itemized Deductions? Scrap the Dependent Exemption???

Who's got the guts to act??



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  #18 (permalink)  
Old 03-06-2008, 10:37 AM
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So, the point being that it is costly to scrap the AMT? Is that the only argument? This AMT has hit me and my family and is costing an additional $3,000 in tax liabilities that I had not forseen!

Lets at least reform this tax so it doesn't hit the middle class that severely! Any thoughts on that?



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  #19 (permalink)  
Old 03-06-2008, 10:46 AM
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Katlee,

I agree with you, at least reduce the impact on the Middle Class! But, the real problem is defining the income bracket for the middle class.. This definition would vary from State to State...

In California, NY, NJ & CT Middle Class would be taxpayers with AGI >$200,000 whereas other States like Nevada and the South of the Country this would be taxpayers with AGI >$125,000..

I think thats where Congress made their mistake...They should have set a higher limit of AGI before AMT could have been triggered!



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  #20 (permalink)  
Old 03-11-2008, 11:35 PM
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Do you favor the abolishment of the AMT tax

AMT must undergo severe changes or else in the future, it will affect a lot of the middle class taxpayers!

It needs to be reformed!



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