http://www.cnbc.com/id/15840232?video=778009422&play=1

This game is played every year regardless of president. The AMT is political suicide to collect. Many of you would qualify for this tax. As you watch the interview, note the third person talking about the deductions left out, in New York of all places. Thats where Rangel is from. State income tax is normally deductible from federal tax, unless you qualify for the alternative minimum tax. BTW, Washington reps have to go back and again fight for the sales tax deduction in washington, if they dont get it, you wont be able to deduct the sales tax on boats, cars and other large purchases. Another gimmick.

If you plan to spend the money, you either have to collect the tax or borrow the money. If you dont plan to spend the money, you dont need to collect the tax, replace it with another tax, or borrow the money.