Tax Tyranny

The additional 16.7 million people that would be subjected to the AMT this year includes some couples with two or more children and incomes as low as $67,890. But families making low six figure incomes will be especially rocked by the tax. "In tax year 2005," Carroll testified, "about 13% of taxpayers with incomes between $100,000 and $200,000 will be subject to the AMT. But, when taxpayers file their returns in the spring of 2007 for tax year 2006, over 75% of taxpayers in this income group will be subject to AMT."