Subject: Alt Min Tax Comment: I live in Northern Virginia where the salaries are high but the cost of living is also very high. We are a two income professional family whose income is about avaeage for this area. We are by no mean rich, We paid more than $5000 in AMT in April. This tax is very complicated to figure out and is hitting the wrong segmant of the population. It needs to be abolished. What good is reducing the tax rates by 1/2% if AMT still exists. We paid far more in AMT than we saved by the tax cut. Unreasonable taxes like this lead to non-compliance or less than full compliance. In addition the phase out of exemptions and deductions needs to be indexed for something more realistic. |