(THREAD) Epic screw-up in the tax bill the Senate just passed. They lowered the corporate rate to 20%, but accidentally put in an alternative minimum tax (AMT) of 20%. That's right. The same rate. (Maybe rushing it through wasn't the best idea). Here are some implications:
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Thanks very much, Nicholas, for the excellent explanation. Many of the rules are difficult for a layperson to grok, and this helped.
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Retaining AMT could reduce the $1.4 trillion increase in deficit? Maybe keep a few more poor people on Medicare and Soc. Sec. alive?
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