2012-09-10

The War Between the States

In the hunt for more revenue, Congress is looking to streamline the tax code, closing loopholes and deductions. One way to do that is allow more Americans to fall under the Alternative Minimum Tax (AMT). A feature of the AMT is that is doesn't allow for the deduction of state and local taxes. Since the Northeast has far and away the highest local taxes, the rest of the states can dump a larger share of the tax burden on them.
D.C. Finalizing Plan for Assault on Metro NYC

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