Posted: Aug 09, 2005 By: Eric Sullivan

Subject: AMT

Comment: The AMT hit my wife and I especially hard last year...our earnings went up through hard work and returns from rising interest rates and the stock market. We got rebuked by the tax system for not sheltering income and for working hard. It simply is not fair that because we were born in Wisconsin and pay high income taxes and real estate taxes that we get nicked by a tax aimed at millionaires because the tax mechanism was not indexed forty years ago. The tax laws do not encourage hard work or savings by ordinary people...they penalize it. Any tax "reform" ought to take into consideration total taxes paid (Fed, Payroll, State, Local, Fees) by income groups. The rich are clearly geting awy with murder because they can afford to pay the polititcal class to do their bidding. But this only serves to increase the tax burden on the lower and middle class. It is inherantly unfair.