Today’s Wall Street Journal reports:
Sen. Baucus, a Montana Democrat, recently joined Finance Committee Chairman Chuck Grassley and others to propose legislation that would repeal the alternative minimum tax. Sen. Baucus said millions of Americans recently have “watched in suspense as Anakin Skywalker was lured to the dark side and became Darth Vader. What millions of those same Americans may not be aware of is another Darth Vader lurking in our tax code; that is the AMT.”“Both Skywalker and the AMT started off with good intentions, but eventually they went astray. Now, the Darth Vader of the tax code is bearing down on millions of unsuspecting families,” Sen. Baucus said. “It’s time to put the AMT in a galaxy far, far away and erase it from the tax code.”
Read more about the “dark side” of AMT in previous posts here.