James B. Stewart Quotes
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The rationale for eliminating the alternative minimum tax is that such a backup system should not be necessary if the tax code is fundamentally fair and eliminates all the loopholes that made it possible for high-income taxpayers to escape taxation in the first place.
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Losses from partnerships and limited-liability companies, the entities through which the Trumps report much of their income, do not have to be added back as part of the A.M.T. calculation.