Best argument possible for real tax reform. Take a meat ax to all preference items and lower rates. If there is anyone out there who thinks that last nights increases on incomes over 450 K is going to do anything but reduce collections, he's a fool. Two things happen when real tax reform happens. First with lower rates there is less incentive to avoid paying and secondly with far fewer loopholes there is less opportunity. After the total collapse we should demand a tax code of less than 999 pages instead of one exceeding 72000.