Reforming AMT
I know lately I’ve been micro-focused on my own spending and debt. Don’t think I lack interest in the greater economic forces out there. I just don’t think about them very often.
I would like to point out a great discussion on the Diane Rehm Show that was on this morning. In a fog of a headache, I listened to parts of the show aboutreforming the Alternative Minimum Tax. Fascinating stuff. Even if you aren’t paying it, pay attention. Unless something changes, we all might have to pay it just because of inflation making our income rise.
One of my knitting friends is about to have a child. Her due date is around the end of the year. She’s hoping to have it in 2007 so she can take the tax deduction, but I did advise her that she might want to visit a financial advisor because doing things like having babies makes the AMT kick in.
It’s not directly relevant to me, but AMT effects people I know, which is why I care enough to point it out to everyone.
Should it go away as a revenue stream for the government, we’d have to make up the trillion dollar shortfall in another manner.
Mrs. Micah wrote:
I am very amused by this phrase: “because doing things like having babies makes the AMT kick in.”
I’d leave a more substantial comment, but it’s 4:40 and I’m beat. :-p
Posted on 06-Nov-07 at 4:41 pm | Permalink