re: #86 Blind Frog Belly White

Yup. The brackets are actually among the easier things to understand in the tax code. It would be simpler still if the AMT was eliminated and instead, the tax brackets included a new higher bracket that encompasses all income over X amount. It would eliminate the additional filings/forms required to compute the AMT, along with the annual AMT patch tango.

You can go through the tax code and find all kinds of things that could be simplified and eliminated, but there’s a constituency that would oppose them. Get rid of NOLs? That’ll piss off big corporations that use them to reduce income in later or earlier years (carryforward/carrybacks). Ditto for depreciation, let alone bonus depreciation.