Subject: Texas Telecommer- ISO AMT Tax Policy Does Not Match Congressional Intent!!!! Comment: Duane Guthrie Individual President’s Advisory Panel on Federal Tax Reform Texas Telecommer- ISO AMT Tax Policy Does Not Match Congressional Intent!!!! I do telecommunications development for Cisco Systems. No one would likely call me financially rich, but I am a very blessed man with a wife and two adopted children. I have ISOs from Cisco that I could exercise and, according to one part of the tax code, I should receive preferential tax treatment if I hold the stock for at least a year. Truth be told, I think the smarter investment would be to buy the stock and hold it for at least 10 years. However, with the present ISO AMT laws and with fluctuations in telecommunication stock prices, I can not make such smart investment choices (buy Cisco and hold for 10 years) because the stock price may go down temporarily, and I would owe more in taxes than the stock is worth. It doesn’t make sense that on the one hand the tax law would encourage my long term investment (which, under normal circumstances would be a wise strategy for me, my employer and the economy), but on the other hand the tax law so heavily discourages such long term investment by mandating taxpayers risk losing more than their investment to acquire the stock. Please bring sense to these laws. Thank you. Duane Guthrie, Allen TX |