The leftists make the AMT sound like some sort of a bargain that lets you get away with low taxes. That couldn’t be further from the truth.
The AMT is a default flat tax for those having a good year.
After you’ve jumped through all of the government hoops designed to lead you into one favored investment or another—you get to work through your income taxes, and then after you’ve planned and worked all year according to the tax incentives, you get to re-calculate it, and if you’ve been too successful, you get hit with the AMT. It really sucks, is very frustrating.
Exactly.