Why does McCain want to repeal the alternative minimum tax? Any ideas?

[babylonsister]

http://news.yahoo.com/s/ap/20070723/ap_on_el_pr/mccain_economy

Sen. McCain vows to repeal the AMT

By LIBBY QUAID, Associated Press Writer Mon Jul 23, 4:02 AM ET

WASHINGTON - Republican presidential hopeful John McCain is pledging to repeal the alternative minimum tax and hold down government spending with vetoes and line-item-veto authority.

The Arizona senator, in remarks prepared for delivery Monday evening to the Economic Club of Southwest Michigan, promised to eliminate the alternative minimum tax, which he said would affect as many as 30 million people by 2010. The tax was originally intended to make sure the wealthy do not exploit tax loopholes.

"I am committed to repealing this tax before millions of American families are forced to devote even more of their hard work to paying for the spending largesse in Washington," McCain said in excerpts from his speech released by his campaign.

McCain said he would fight for line-item veto power, which the Supreme Court ruled was unconstitutional, but wouldn't hesitate to use the veto as it now exists to crack down on spending.

"Give me the pen, and I'll veto every single pork-barrel bill Congress sends me, and if they keep sending them to me, I'll use the bully pulpit to make the people who are wasting your money famous," he said.

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[youngdem]

1. Because his big ticket donors have an even WORSE idea in mind?

:shrug:

[endarkenment]

2. It doesn't need to be repealed it needs to be rewritten.

The original idea was fine: make sure that whatever loopholes the rich wrote into the tax laws they still had to pay their taxes. Of course the rich fucknutz made sure that this was not cola, like everything else in the tax system except the regressive fica taxes, so inflation has turned it into yet another additional tax on the demographic bulge known as 'middle class working american families'. Everything tax related needs to be inflation adjusted so that the crooks can't just let inflation indirectly screw us over, they will have to overtly pillage us.

[babylonsister]

3. .