Replacing the alternative minimum tax with a 4% surcharge on incomes of more than $100,000 would hurt many small-business owners, say critics of the tax reforms proposed by Rep. Charles Rangel, chairman of the House Ways and Means Committee. "The AMT must go, but it's a bad idea to try to pay for this by raising income tax rates on upper-income earners, many of which are entrepreneurs and small-business owners," one economist told the Birmingham Business Journal.

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