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First, The AMT was a great idea except the original creators of the law forgot to index it and the GOP won’t allow that to happen now. Second, the article completely ignores the payroll tax that when considered makes the amount of taxes paid by lower income tax calculator 2012 persons a much higher percentage of their income. Third, the top 1% of the income recipients control an extraordinary amount of the income generated yearly (60+%) and their income in a progressive tax system should be taxed much closer at that percentage ratio for the system to be in any way fair which should be the guiding principle and the WSJ doesn’t even address any of these issues which clearly defines the WSJ editors credibility as seriously lacking.
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