Getting your player ready...
SALEM, N.H. — John McCain, campaigning in New Hampshire, stressed his proposal to repeal the alternative minimum tax, a step the Republican said would save middle-class families about $2,700 each in 2010.
“I worry about obviously any reduction in revenues, but to have basically two tax codes in America is not an acceptable system,” McCain said.
The AMT was originally created to make sure that the wealthy do not entirely escape income taxes. But the legislation did not require it be adjusted for inflation, so it now affects millions of middle-class families.
