Alaternative Minimum Tax and future generation

Besides regular income tax, there is another tax which parallel with income tax. It is Alternative Minimum Tax (AMT), which means if your income reaches a certain amount; you also have to pay AMT, so the tax burden doubled. There are currently 3 million people in America pay for AMT. However, under Bush Administration’s tax cut policy, people’s income increase, so more and more people will have liability to pay AMT. There will be 30 million people have to pay AMT in 2010.
More information please click:
http://money.cnn.com/2005/02/03/news/economy/amt_taxcuts/index.htm

With a big tax cut under Bush Administration and a huge spending on welfare programs and Social Security cost, there is already a big deficit in American government. However, a series tax cut policies will be carried for almost ten years. So a decade later, there will be a big tax burden in future generation. One reason is that there will be many baby boomer generation will retied, and government needs a big money to cover their welfares cost. So what government will do is increase the tax. So the tax burden will shift to future generation.