Saturday, March 03, 2007

The ATM scam

Taxes - Alternative Minimum Tax - The Untaxed Rich, Found and Then Lost - New York Times: "The majority of families with two or more children earning $75,000 to $500,000 now owe more under the alternative tax — anywhere from hundreds of dollars to tens of thousands of dollars annually. Among such families with an adjusted gross income of $75,000 to $100,000, almost 80 percent are affected, compared with just a third of those with incomes of $1 million or more, according to computer modeling studies by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute."