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Knoll Finds Proposed Tax on Fund Managers of Questionable Value
BY JENNIFER BALDINO BONETT
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FACULTY NEWS FLASH
MEDIA HIGHLIGHTS
The AMT, enacted in 1969 to ensure the most wealthy Americans paid at least a minimal amount of tax, is about to reach down the economic ladder and apply to more than 23 million American taxpayers — many of them middle-class and married with children — when they file their 2007 returns. And that number could increase exponentially in the next three years.

In what experts call a “design flaw,” the AMT is not adjusted for inflation, allowing the arm of the tax to grow longer. Without a change in law, experts report, more than 30 million taxpayers will become subject to the AMT by 2010, and that number could increase to 53 million by 2017. Those figures stand in stark contrast to the 20,000 taxpayers affected by the AMT in 1970.
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