It was not the Tea Party that had the Alt. Min. Tax repealed, it was the Pelosi Congress.
Now Millionaires can get full deduction for R.E. Taxes on those McMansions.
The Alt. Min. Tax was portrayed as a "Blue State Tax" due to the fact that Blue Staters pay higher R.E. Taxes than Red Staters.
Now, all Real Estate taxes are fully deductable against Federal tax returns.
So now OWS supporter Russel Simmons (and others) can gain full deductability on that mansion that was featured in the Reality show: Kimora: Life in the Fab Lane, in tony Saddle River, New Jersey.
Now Barbra Striesand can gain full deductability for that coastal compound in Malibu California. just don't walk on her beach!
Bruce Springstien gains full deductability on the $130,000.00 in R.E. taxes he pays on his 3Ac Colts Neck, N.J. property. Band Mate; Max Weinberg gains a $49,000. deduction. Jon Bon Jovi is able to deduct $300.000. in property tax for his Middletown, NJ home.
These Democrats have some nerve blasting working class Tea Partiers.
I say bring back the Alternative Minimum Tax! Cap Federal deductions for Real Estate Taxes!