Policy Watch: The Expanding Reach of the Individual Alternative Minimum Tax-Reference-Cited by-同舟云学术

Policy Watch: The Expanding Reach of the Individual Alternative Minimum Tax

Published:2003-05-01 Issue:2 Volume:17 Page:173-186
ISSN:0895-3309
Container-title:Journal of Economic Perspectives
language:en
Short-container-title:Journal of Economic Perspectives

Author:

Burman Leonard E¹,Gale William G²,Rohaly Jeffrey³

Affiliation:

1. Senior Fellow, Urban Institute, Co-director, Tax Policy Center, and Research Professor, Georgetown University Public Policy Institute, all in Washington, D.C.

2. Arjay and Frances Fearing Miller Chair, Brookings Institution, and Co-director, Tax Policy Center, both in Washington, D.C.

3. Research Associate, Urban Institute, and Director of Tax Modeling at the Tax Policy Center, both in Washington, D.C.

Abstract

The individual alternative minimum tax (AMT) was designed in 1970 to apply reduce aggressive tax sheltering, but under current law will grow to cover tens of millions of households in the next decade. The growth occurs because the AMT is not indexed for inflation and the 2001 tax cut reduced regular income taxes but not the AMT. AMT growth is troubling because the tax has questionable effects on equity and efficiency and is inordinately complex. This paper describes the AMT, discusses economic issues related to the alternative minimum tax, and examines options for reform.

Publisher

American Economic Association

Subject

Economics and Econometrics,Economics and Econometrics

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/089533003765888494

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