If you don’t understand or haven’t been following the AMT tax debate in Congress, this gives a very brief overview with links out to other sources that report on the debate.

I can summarize Hilzoy’s entire post, however, but pointing out that the Republicans are trying to protect a loophole that allows 50,000 households with an average income of $18.7 million while the Democrats are trying to protect the taxes of 23 million upper income families from going up.

23 million vs. 50,000. And you wonder why the Republican party is f’d.

(link)