Alternate Minimum Tax

The Alternate Minimum Tax was created by the Tax Reform Act of 1969. Its purpose was to prevent 155 high income households from claiming so many tax exemptions and credits that they would owe little or no income tax. It was not indexed to inflation. It has now become the bane of middle class America. Every year Congress passes a one year patch and kicks this can down the road.

The income level of the middle class has changed. Congress needs to correct this problem not postpone it. This could be done in a simple one page bill. Apply this tax to individuals who have an annual income of over $100,000 and to families with an annual income of over $150,000. Americans have enough to dread at tax time. We do not need this tax hanging over our heads.

Signed,
The Electorate