Subject: AMT Comment: I strongly favor abolishing the AMT or drastically changing it. In general calculating tax is too complicated. I favor getting rid of as many deductioins as possible. I wouldn't even mind eliminating the deduction for mortgage interest, even though I have an active home loan. As much as possible, I think tax should be based on income only. It would be simpler for everyone: taxpayers, IRS, businesses, etc. and protect against widespread abuse of the tax system. Of course I would expect that as deductions are eliminated, that overall tax rates would be decreased to keep tax revenues relatively constant. |