An appropriate news article for Bastille Day:

Tax Surcharge Called a Growing Problem

(may require free registration at http://www.nytimes.com)

It looks like that “Alternative Minimum Tax” is going to be a lot WORSE for people around places like New Jersey than first estimated. (This is the tax, where, if the amount you would pay under normal income tax rules is too LOW, the Alternative Minimum Tax (AMT) rules are substituted and you pay that, instead.)

I could see where the real estate tax fiasco in New Jersey is compounded when so many people are thrown into AMT that few taxpayers get any benefit of the deduction. (You can’t deduct real estate taxes in AMT.)