Taxes

The Alternative Minimum Tax was once meant to make sure millionaires couldn't skip through loopholes. But now it's hitting the middle class, mostly in Democratic-leaning states. And commentator Jeff Birnbaum says the politics of fixing it speaks volumes.

The Supreme Court hears a case today that will decide whether it's legal for states to exempt in-state bond interest from income tax while taxing out-of-state bonds. Jeremy Hobson reports.

Drivers who use car-sharing services in the state of Washington will now have to pay almost 10% in car-rental taxes. Users call it a penalty on doing right by the environment. Cathy Duchamp reports.

Congressman Charles Rangel proposed a one-year patch for the alternative minimum tax to save taxpayers from a rate hike. But Jeremy Hobson reports it could threaten the Democrats' promise of pay-as-you-go spending.

The Democratic chairman of the House Ways and Means Committee, Charles Rangel, has introduced a tax-reform bill that would lower taxes for 91 million families and overhaul the entire tax code to the tune of almost a trillion dollars. Steve Henn reports.

Brazilian authorities have raided Cisco offices and several homes on allegations the company evaded millions in taxes. Dan Grech reports the raids point to Brazil's bigger problem with high corporate taxes.

Today is the deadline for people who filed for a tax extension in April. But Alisa Roth reports that many of them have yet to pay up -- and thanks to the current economy, it may take them even longer.

Paul Krugman's new book, "The Conscience of a Liberal," considers a group determined to take over the Republican party and Franklin D. Roosevelt's New Deal. Doug Krizner discusses a gamut of issues with the author.

Republicans and Democrats agree -- the Alternative Minimum Tax must go. But while Republicans have unveiled a plan to eliminate it, Democrats say it should just be replaced. Steve Tripoli reports.

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