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 alternative minimum tax (AMT) is an extra tax some people have to pay on top of their regular income tax. It has its own set of rates and rules for deductions, which are less generous than the non-AMT rules. The idea behind the AMT tax was to prevent people with very high incomes from using special tax benefits to pay little or no tax. But the AMT kept expanding its reach over a 42-year history and has applied to taxpayers who don't have a very high income or who don't claim lots of special tax benefits.