Year after year, Congress keeps kicking meaningful income tax reform down the road. Consequently, taxpayers continue to be stuck with an archaic, overly complicated mess that pleases no one — except perhaps some tax accountants who charge by the hour.
A prime example is the dreaded alternative minimum tax (AMT). Enacted in 1969 to close loopholes that allowed wealthy taxpayers to avoid paying income taxes, the AMT has been tinkered with so much over the years that millions of middle-income taxpayers now get snared as well.
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