Alternative minimum Tax

The newly passed and signed debt extension bill contains an estimate that there will be more revenue (taxes) raised when the Bush era tax extensions expire after the 2012 elections. One of those provisions that our wonderful Congress will let expire is the AMT patch. What that means is that another 20,000,000 yes, twenty million more taxpayers will be subject to AMT.

What does that mean for the average Joe. Well the average Joe really does not pay any tax except social security tax and he thinks that SS is a retirement plan.

For those of us who actually pay taxes it means on average and additional $3000 more tax to pay each year to our wonderful government.

They really have the taxpayer's problems in mind. NOT!!!