Isn’t that AMT on steroids? The GOP claims to hate the AMT…
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GOP never hated AMT.
AMT is GOP’s preferred way to take money from near rich to subsidize tax cuts for super rich.
That’s how GWB’s tax-cuts were designed. On the face of it everyone seemed to get a tax cut, but his moderately rich supporters missed the fine-print on AMT! GWB cleverly designed that tax cut such that capital gains are not subject to AMT.
Next time anyone gives you a tax cut, first look under the hood!
