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Alternative Minimum Tax
RELEASED: April 14, 2004
A new report
examines the true effects of the Federal government's Minimum
Alternative Tax (AMT) on Californians. The report reviews the history of this
"stealth tax" which, although originally intended to tax wealthy
affects millions of middle-class families.
| On a national basis, the impact of the
federal Alternative Minimum Tax (AMT) on American families has been
increasing over time and will accelerate in the near future. We
conclude that the AMT has a serious negative impact on California that
is disproportionate to states in general, and that this negative impact
is contributing to California’s deteriorated economic condition.
new issues forum
This is a political issue unlike those most common to current
generations of Americans, yet an issue that led to the birth of the
United States. The AMT has no vocal supporters because it has no party.
Perhaps the AMT will bring to a new era the lost discussions of
federalism, state’s rights, and the direct relationship taxes have to
such glorified ideals as equality and progress. As for now, the
American middle-class, especially in California, can for once be
clearly defined: a growing base of people stuck in the middle, between
two tax systems increasingly at odds.