American military thought has coined the expression 'Overall Strategic Objective.' When [British] officers first heard this they laughed; but later on its wisdom became apparent and accepted. Evidently this should be the rule, and other great business be set up in subordinate relationship to it.
The AMT was created in 1969 over outrage that 155 high-income households making over $200,000 at that time didn't end up owing any federal income tax. That $200,000 would be worth $1.3 million today.
The AMT is a second level of income tax that was originally meant to affect the wealthiest of individuals. Its purpose was to prevent the wealthy from using deductions and special tax benefits to pay less in taxes.The AMT was introduced with the Tax Reform Act of 1969.nce you know how much tax was owed during the year, you calculate to see if you are paying the correct amount or more than was required, the AMT would not affect you. However, if you have paid less than the regular income tax, the AMT takes affect and a new tax level is determined.