January 16, 2007

The inflation rate, as well as economic growth, pushes people into higher tax brackets and that increases the likelihood that the taxpayer will fall prey to the AMT. Ironically, the impact of bracket creep and the AMT has fallen disproportionately on the middle class. The reason for this is that over the last 25 years the top personal income tax rate has declined, reducing the need and incentives to pursue tax shelters that were so pervasive during the high tax rate years.

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