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WILL CONGRESS FIX THE AMT PROBLEM

NOT LIKELY



Congress looks at those who benefit from fixing the AMT problem. Below is a breakdown of incomes and households nation wide. I am showing the income of a household and then the percent of those households that are a percentage of all households in the US>

Total Household Income / Percent of the total households in US

Below $50, 0000 gross income / 62%

$50,000 to $100,000 of gross income / 23%

$100,000 to $200,000 of gross income / 11%

$200,000 to $500,000 of gross income / 3%

$500,000 plus of gross income / 1%

Source: Urban Booking Tax Policy Center

From the above you can see that the majority of households in the US have incomes of below $50,000. If you combine the $100,000 and below households the number is 85%.

Those households under $100,000 of gross income in most cases do not pay AMT. It is usually only those households over $100,000 that gets stuck with this tax.

Now ask yourself this question.

Will congress fix something that will only benefit 15% of households in the US?

I think that you have the answer you need. CONGRESS WILL NOT FIX AMT.

They have already calculated these new taxes into their future budgets so why fix a good thing. The 85% that are not stuck with this tax are voters and the rest of you poor slobs have to make more income to afford this real-estate and lifestyle on the West and East Coast can just PAY UP.

WRITE YOUR CONGRESSMAN OR CONGRESSWOMEN GO TO www.uscongress.org

Write your congressman or woman an email. Make is to the point.