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Author: bighairymike Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 736319  
Subject: Re: AMT Date: 1/19/2007 5:46 PM
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Just jumping on here at the end of the thread. Not wishing Gingko100 or anyone else to have to pay more to Uncle Sugar.

But I must point out the mechanics of the AMT goes a long way towards what the flat tax advocates (like me) well.... advocate.

The AMT counts most income, eliminates most deductions and applys a fixed rate to the result. Easy Peasy. It seems that all is required is for the base to broaden and the rate to come down as the old tiered, deduction laden systems is slowly displaced.

Of course, this could be done in a revenue neutral way but the congress weasels will use any opportunity as cover to increase spending.... So in conclusion, it won't happen and we're screwed.
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