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The Individual AMT: Problems and Potential Solutions

Author

Listed:
  • Burman, Leonard E.
  • Gale, William G.
  • Rohaly, Jeffrey
  • Harris, Benjamin H.

Abstract

Originally targeted at high-income households, the individual alternative minimum tax (AMT) is now on the verge of switching from a "class" tax to a "mass" tax. Under current law, the AMT will encroach dramatically on the middle-class over the next decade and will become the de facto tax system for upper-income households. These changes occur because of the non-indexation of the AMT for inflation and the tax cuts enacted in 2001. The trends are troubling because the AMT is notoriously complex, its effects on efficiency and equity are questionable, and the underlying purpose of the AMT is controversial. This paper provides information on the AMT, its economic effects, and options for policy reform, and is intended to help inform the debate and the eventual reforms that will be required in the near future.

Suggested Citation

  • Burman, Leonard E. & Gale, William G. & Rohaly, Jeffrey & Harris, Benjamin H., 2002. "The Individual AMT: Problems and Potential Solutions," National Tax Journal, National Tax Association;National Tax Journal, vol. 55(3), pages 555-596, September.
    • Handle: RePEc:ntj:journl:v:55:y:2002:i:3:p:555-96
    DOI: 10.17310/ntj.2002.3.10
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    Cited by:

    1. Caren Sureth & Ralf Maiterth, 2006. "Wealth Tax As Alternative Minimum Tax ? - the Impact of Minimum Taxation on Business Structure and Strategy -," EcoMod2006 272100093, EcoMod.
    2. Rainer Niemann, 2006. "Wirkungen der Abschnittsbesteuerung auf internationale Investitions- und Repatriierungsentscheidungen," Schmalenbach Journal of Business Research, Springer, vol. 58(7), pages 928-957, November.
    3. Niemann, Rainer, 2004. "Entscheidungswirkungen von Verlustverrechnungsbeschränkungen bei der Steuerplanung grenzüberschreitender Investitionen," Tübinger Diskussionsbeiträge 276, University of Tübingen, School of Business and Economics.
    4. Maurizio Caserta & Francesco Reito, 2015. "Minimum taxation as a luxury good," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 32(3), pages 301-310, December.
    5. Rainer Niemann, 2004. "Asymmetric Taxation and Cross-Border Investment Decisions," CESifo Working Paper Series 1219, CESifo.
    6. Caren Sureth & Ralf Maiterth, 2008. "The impact of minimum taxation by an imputable wealth tax on capital budgeting and business strategy of German companies," Review of Managerial Science, Springer, vol. 2(2), pages 81-110, July.

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