Grassley "Shocked" re AMT Reform: Your Point Being?

Recent remarks by ranking Senate Finance Republican Charles Grassley (R-IA) about an AMT reform package that won't be announced for weeks makes us all wonder if those weary old tax scare lines still work regardless of the facts. Many important elements of the reform package remain to be decided, but one thing House Democrats are clear about is that under the AMT reform measure taxpayers with incomes between $250,000 and $500,000 would to continue paying the AMT, but at lower rates. And, all-in, the bill's fiscal consequence is net-zero, revenue neutral -- all spending is paid for. But Americans earning over $500,000 a year might pay a little more. Grassley is incensed. He calls the tax increase he forecasts on this small fraction of the richest Americans "shocking." Sen. Grassley, Iowans and Americans facing AMT liability for the first time this year want to know, what is your point?
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