I encourage all retirees and nonretirees who will possibly have the AMT (Alternative Minimum Tax) increase your tax burden for 2012 to write to your federal officials.
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The letter I wrote is as follows:
Please pass an Alternative Minimum Tax patch now and help the economy. As a retiree, much of our income has been affected negatively by numerous government programs. We have not enjoyed the tax breaks that employed individuals have had nor can we earn income on safe investments.
As many retirees are fortunately positioned to help their family by lending money or paying for some or all of grandchildren's education, we would be unable to continue this assistance without the AMT patch.
By passing an Alternative Minimum Tax patch, at least for retirees, it would allows us to continue to help our families, which would benefit the economy.