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Reply to "AMT -- about how much do you have to make to be subject to it?"
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[quote=Anonymous]The reason why kids are a trigger for the AMT is because when the child tax credit was increased to $1000, Congress was living under "pay as you go" rules-- which meant that any tax cuts had to be paid for with tax increases elsewhere (or other revenue streams-- that is why federal student loans cannot be discharged in bankruptcy for any reason, because Congress wanted to use the "savings" from not discharging loans for other tax breaks). If they made the child tax credit subject to the AMT, then they could take political credit for it, while not having to come up with as much in revenue to offset it. [/quote]
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