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On second thought, it should have been addressed many years ago, as soon as politicians realized that it was a growing problem...

It's only a problem for the taxpayers. Back burner.

One aspect of AMT that does not get mentioned but I think needs to be addressed if the entire law is not repealed is the deductible exclusions. An example is attorney's fees. If you are injured in an accident and are awarded $200,000,you are now subject to AMT. In some states your total tax rate could be 40%.That means that you would pay the IRS $80,000, leaving $120,000, If you hired an attorney at a 50% contingency, you would be out another $100,000 leaving you with $20,000. If there were significant expenses incurred in obtaining the award, you could actually be in the red. If the attorney's fees were deductible you would have had $60,000 to cover expenses and hopefully offer some consolation for your injuries. Remember that the attorneys will be paying taxes on the money you paid them. Assuming the same tax rate, that is $40,000 or a total tax rate of 60% on the $200,000 award. Repeal AMT or at least address some of the gross injustice it creates

I propose eliminating the AMT tax and replace it with the Hollywood tax. Since Hollywood stars know it is unfair for them to earn $20 million a flick while most the staff and other actors don't make 1/1000th of that, I propose a 90% tax on all movie star incomes over $50,000. Afterall, who can't live on $50K?