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The AMT: What's Wrong and How to Fix It

Author

Listed:
  • Burman, Leonard E.
  • Gale, William G.
  • Leiserson, Greg
  • Rohaly, Jeffrey

Abstract

The alternative minimum tax (AMT) is a complex, unfair, and inefficient shadow tax system that threatens to affect 32 million taxpayers by 2010, many of them solidly middle class. Under current law, repealing the AMT without offsets would cost more than $850 billion through 2017. This paper summarizes the current and projected effects of the AMT and considers options to finance repeal. One attractive option we consider would be to combine AMT repeal with a four percent tax on AGI in excess of $200,000 for married couples and $100,000 for others.

Suggested Citation

  • Burman, Leonard E. & Gale, William G. & Leiserson, Greg & Rohaly, Jeffrey, 2007. "The AMT: What's Wrong and How to Fix It," National Tax Journal, National Tax Association;National Tax Journal, vol. 60(3), pages 385-405, September.
    • Handle: RePEc:ntj:journl:v:60:y:2007:i:3:p:385-405
    DOI: 10.17310/ntj.2007.3.03
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    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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