I guess you should list what this is since I have no clue or may have heard about it but just didnt realize it was called AMT.

Thanks.

I just read somewhere that "the AMT will hit 3.6 million out of the nation's 131 million taxpayers filing for tax year 2005, and could affect 31 million by 2010 if nothing is done."

We are so over-taxed its amazing there is "No outcry" about the high tax rates in this country!

I vote to affirmatively to scrap this tax!

I think the Rich should pay their fair share of the taxes! They have had too many tax breaks in the past!

Even Warren Buffet says the RICH should pay more!

I certainly agree with most members who have expressed their displeasure at this atrocious tax! Its affecting me in a significant way, and instead of getting a tax refund I have to fork out a few thousand dollars when I file my tax return!

I am really upset about this tax and the new Congress MUST fix this tax ASAP!

Judging by most peoples opinion and the votes, why even bother debating about this matter, Congress should immediately act upon our advise and do away with this tax! Period!

I dread this tax!

I agree about the general mood of the members regarding the AMT tax, it is a really bad tax and affecting millions of middle class americans. But, folks thing about it, how are we going to replace the lost revenue??

Are we going to increase Corporation Tax? Do away with Itemized Deductions? Scrap the Dependent Exemption???

Who's got the guts to act??

So, the point being that it is costly to scrap the AMT? Is that the only argument? This AMT has hit me and my family and is costing an additional $3,000 in tax liabilities that I had not forseen!

Lets at least reform this tax so it doesn't hit the middle class that severely! Any thoughts on that?

Katlee,

I agree with you, at least reduce the impact on the Middle Class! But, the real problem is defining the income bracket for the middle class.. This definition would vary from State to State...

In California, NY, NJ & CT Middle Class would be taxpayers with AGI >$200,000 whereas other States like Nevada and the South of the Country this would be taxpayers with AGI >$125,000..

I think thats where Congress made their mistake...They should have set a higher limit of AGI before AMT could have been triggered!

AMT must undergo severe changes or else in the future, it will affect a lot of the middle class taxpayers!

It needs to be reformed!

I dont think there is an alternative to the AMT Tax. Would all of you want Congress to raise your Taxes instead to fund the Deficits???

I dont agree with absolishing the AMT tax, because I dont think there is an alternative Tax that we can accept!