The lead edit in today’s WSJ (online subbers can find it here) details the point I made last week about the alternative minimum tax being a high-tax state gotcha.
But the Journal says the AMT is gonna get even worse — soon. By 2010 some 30 to 36 million taxpayers will pay the AMT up from only 3.3 million today. Bush tax cuts? Poof, gone. They do not apply to the AMT.
Scary stuff.
