CSPAN Capitol Hill Hearings December 5, 2012
Cost of tax reductions. The alternative minimum tax is 28 . If your tax rate was lowered to 25 . You still have to pay 28 . That is correct. For incomes between to london thousand dollars and 500,000, the effective tax rate is 35 . You hit the 35 rate and incomes fire lower than the income levels at which you would hit the 35 rate and regular tax. Why do they call it a patch . It is a one time year by year patch to stop the broad expansion. You could ask why they call it a cliff. They have discussed this in terms of the patch. It is a year by year increase in the exemptions. The patches nothin...
Source: archive.org
