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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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Low-volatility funds, which tend to smooth out performance, have been especially popular since the financial crisis. The PowerShares S&P 500 Low Volatility Fund is the oldest, begun in 2011.