Alternative minimum tax : The Treasury sees some design flaws in the alternative minimum tax.(Brief Article)

The Treasury sees some design flaws in the alternative minimum tax.

It was originally designed to affect the wealthy. Since it hasn't been indexed for inflation, the tax is also hitting many other taxpayers. By the year 2010, the Treasury says the tax will hit 17 million people, or 16 percent of all taxpayers. This year, it will affect about 1.3 million people, or 1 percent of all taxpayers.

Unless significant, costly legislation is enacted, the Treasury noted, the AMT will increasingly affect taxpayers whom …