The Policy And Politics Of Alternative Minimum Taxes

David Gamage and Ari Glogower

National Tax Journal, 2024, vol. 77, issue 2, 467 - 492

Abstract: This paper contributes to a literature offering qualified justifications for alternative minimum tax (AMT) structures. We conclude that there is a narrow case for justifying AMTs even from the social planner perspective and that the proposed Billionaire’s Minimum Income Tax satisfies that narrow case. Next, incorporating governance collective action problems and electoral political constraints, we conclude that these considerations support a broader case for justifying AMTs that potentially also supports both preference-disallowance AMTs and the new corporate alternative minimum tax enacted in 2022.

Date: 2024
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