www.lesswrong.com/posts/QAB3BEDRziBerNAih/whack-a-mole-is-not-a-winnable-game
2 corrections found
it seems work by totaling all the tax exemptions the rich were claiming, subtract out a $30,000 exemption and whatever federal taxes they actually paid, and then they owe 10% of whatever’s left as the AMT.
The original 1969 “minimum tax” was generally an add-on tax of 10% of tax preference items over $30,000, not a calculation that subtracts regular tax paid from the preference amount and then taxes the remainder.
Full reasoning
2 sources
- Alternative minimum tax - Wikipedia
“Congress responded by creating an add-on tax on high-income households, equal to 10% of the sum of tax preferences in excess of $30,000 plus the taxpayer's regular tax liability.”
- Alternative Minimum Tax Still Burdens Taxpayers with Compliance Costs (Tax Foundation)
“Congress created a minimum tax—10 percent of certain tax preferences—to curb this tax avoidance.”
every scheduled chemical compound is specifically named.
The Controlled Substances Act schedules include class-based definitions (e.g., “cannabimimetic agents” and “fentanyl-related substances”), not only individually named compounds.
Full reasoning
1 source
- 21 U.S. Code § 812 - Schedules of controlled substances (Cornell LII)
Schedule I(d): “The term ‘cannabimimetic agents’ means any substance that is a cannabinoid receptor type 1 (CB1 receptor) agonist…”; Schedule I(e): “the term ‘fentanyl-related substance’ means any substance that is structurally related to fentanyl…”; Schedule II(a): “Opium and opiate, and any salt, compound, derivative, or preparation of opium or opiate.”