[avacado]

It applies to people making over $200K/yr (married $250K/yr) and taxed on sales amounts over $250K ($500K for married couple)

But still, it's a complete rip-off!

[biggredd1]

Looks like it would hit govt workers bigtime! Bwahahahahahahahah!!!!!!!!!!! The usurper Dunham strikes again!

[E. Pluribus Unum]

It applies to people making over $200K/yr (married $250K/yr) and taxed on sales amounts over $250K ($500K for married couple)

The ATM (Alternative Minimum Tax) was only supposed to apply to "the rich" when it was passed as well.

Once inflation hits, EVERYBODY who owns a house will be subjected to it.

[Fee]

There are people who accept higher taxes for 250K+ income until I point out that the taxes are not indexed to inflation. AMT was suppose to catch super rich people and make them pay taxes during the 1970’s. Not being indexed to inflation, today there are many people considered super rich and must pay AMT when they are actually upper middle class. The working middle class do not realize that within twenty years they will be paying the 250K+ rates just on the effects of inflation. By the way the Federal Reserve concluded the US can never pay off their debts unless they can ignite inflation. That is why we have such low interest rates and massive printing of paper currency.

[a real Sheila]

it is my understanding that it is on profit amounts over $250K for individuals, $500K for married couples.