Post #9556 by sykesix on the Berkshire Hathaway board

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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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Regardless of exactly how many tax payers are hit with AMT today, any reasonable person would conclude that it affects orders of magnitude more people (numbering in millions) than originally intended (155 people). Everyone is aware of this but the federal govt refuses to fix it because they like the revenue from it.

That is not quite correct. The TCJA almost completely eliminated the AMT by raising the exemption and adding in deductions. Under current law, only about 0.1% of tax filers pay the AMT.

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