One proposal here is to eliminate the ordinary income tax, and keep only the AMT, which is much simpler. The political advantage is that nobody gets a tax incre

One proposal here is to eliminate the ordinary income tax, and keep only the AMT, which is much simpler. The political advantage is that nobody gets a tax increase, and nobody's taxes get harder. And the revenue loss is surprisingly small - estimated at $63 billion annually in 2010 (though perhaps higher now due to the lower SALT limits). I am in camp-AMT-only and it seems like both parties could get on board.