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The proposal, meanwhile, by the leftist Social Democrat party to introduce a minimum tax across all Switzerland's cantons was rejected by 58 percent of voters.
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The proposal would avoid the $1.2 trillion across-the-board spending cuts by slashing $110 billion from the deficit through a minimum tax on those making $1 million or more as well as closing some corporate tax loopholes, according to the Financial Times.
OBAMA The Tax Policy Center analysis of your proposal for a 20 percent across-the-board tax cut in all federal income tax rates, eliminating the Alternative Minimum Tax, the estate tax and other reductions, says it would be a $5 trillion tax cut.
Thank the alternative minimum tax.
Alternative Minimum Tax Q.
CNBC explains the alternative minimum tax.
He would repeal the alternative minimum tax.
My alternative minimum tax also went down.
He wants to make a permanent, across-the-board 20 percent cut in marginal rates; to maintain current tax rates on interest, dividends and capital gains; to eliminate the estate tax; and to repeal the alternative minimum tax.
What is the alternative minimum tax?
It concerns the dreaded alternative minimum tax.
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