Yay! $$$ for meeeee!!!!!
ADDED: Those damned Republicans only want to help the super-rich, while the Democrats' beneficence concentrates on the humble folk in the $100,000 to $500,000 range. Finally, someone's looking out for the working man.
AND: Please, nobody read this mockery to mean that they shouldn't eliminate the AMT. I really want them to do it. How they're going to replace all the money they lose, I don't know. And let me just add that the reason the AMT hurts me so much is that the income and property taxes in my state are so high. Those are the big tax deductions I lose the benefit of. What the AMT does -- certainly in my case -- is to make sure that people who suffer from a really high state and local tax burden still pay their share of federal taxes. Getting rid of the AMT makes it easier for state and local government to maintain high taxes because these taxes will lower our federal taxes. Anyone in a state with low taxes should probably be pissed off at this, because their states do with less revenue while their citizens fork over more to the feds. But presumably those states vote Republican, so who cares? My state votes Democratic, and it's got a lot of people who could really save a lot -- and contribute generously to the Democrats who have tended to us so well. In short: $$$$$$$$$$$$$!
SPECIFICALLY: Last year, the AMT cost me $4900.