The political problem is that a lot of the people who will benefit from the AMT being repealed don't know they have the problem yet.

The political problem is that a lot of the people who will benefit from the AMT being repealed don't know they have the problem yet,

[The consumption tax idea is] at great odds with the political center of the country, ... How do we get to a system that better encourages savings and investment, without creating a system that can be characterized as benefiting the rich?

But that's not where the revenue comes from,

My guess is the panel is playing with a couple of different ideas. One is some...reform of the current income tax system and the second is a value-added tax.

It's hard to see how they overcome some of the intrusions onto really pretty sacred territory.