In legislation titled the “Tax Reform Act of 1969,” the Congress created a new “tax gun” known as the Alternative Minimum Tax or AMT.

Supposedly, the Democrat controlled House and Senate back then intended to aim it only at 155 specific American citizens. Yes, you read that right.

Today, more than 25 million American citizens are in the AMT crosshairs of the incumbent spendthrifts in Washington. That means one in five Americans will be hit by the AMT in this next tax return cycle.

Why have Congressional incumbents since 1969 permitted this to continue? Put plainly, the AMT has become more like an ATM — Automatic Taxing Machine!

This Alternate Minimum Tax system automatically enables congressional spendthrifts to take still more and more of citizens’ hard-earned money. And, the increasing number of citizens who become collateral damage as a result makes no matter to the federal Leviathan.

Let’s review the history of the AMT. As we do, here’s a question to stimulate your thoughts on the subject. Does any American today believe that any level of government should ever pass legislation that targets 155 specific Americans, using an alternate tax system for only them?

Now the facts:

When passed in 1969, the AMT was not indexed for inflation. In other words, those who wrote it and passed it knew that over time the number of American citizens who would be ensnared by the AMT would certainly increase. And, they knew that those Americans hit by the AMT would lose many deductions and exemptions allowable in computing their regular tax liability.

What’s the procedure?

After taxpayers complete their normal tax code calculations, the AMT system uses a different set of rules for determining both taxable income and allowable deductions (for those specific taxpayers); and, the AMT system uses a 26-28 percent rate calculation to determine what is called the Tentative Minimum Tax (TMT). The TMT is then compared to the income tax amount calculated via the normal code.

Today, targeted taxpayers are folks who have what are known as “tax preference items,” such as, “long-term capital gains, accelerated depreciation and percentage depletion.” Also included are certain tax-exempt income, certain credits, personal exemptions and even the standard deduction.

That’s how the 1969 Congress selectively targeted 155 citizens and installed an alternate tax system that now affects 25 million American taxpaying citizens.

Some estimate that the average American affected by the AMT will owe an additional $2,000 in taxes. Whatever the amount, the additional tax will be on top of the increased cost of energy to heat our homes and fill our gas tanks.

Congress has repeatedly been urged to repeal the AMT. But, over the years, regardless of the affiliation of party leadership, Congress never takes that action.

In the past, interim fixes — adjusting up the threshold — is the only action Congress has ever taken. And, in each instance, Congress has repeatedly avoided adding indexing to each temporary fix.

This year, under Nancy Pelosi and Harry Reid, the House and Senate has been particularly slow to act. That’s unconscionable. So, it is not surprising that IRS Oversight Board Chairman Paul Cherecwich said he is “gravely concerned,” and that “a delay threatens the IRS’s ability to process returns and issue refunds in a timely manner and imposes significant burden on taxpayers.”

What Cherecwich did not say is that the estimated $87 billion in delayed refunds represents an interest-free loan of taxpayer money to the current congressional spendthrifts.

An articulate presidential candidate with the courage to tell the American people about the AMT tax gun aimed at their head and the will to demand Congress repeal this inappropriate alternate tax system would, make at least 25 million Americans stop, listen to and, perhaps, vote for them.

NOTE: Readers may want to check out the online “AMT Assistant” at the Internal Revenue Service Web site (www.irs.gov). The AMT Assistant is an electronic version of the worksheet in the 1040 instructions, called “Worksheet to See if You Should Fill in Form 6251 - Line 45.”