But wait, it actually gets WORSE: he also wants to get rid of your deduction for state and local taxes (which will hit Blue Staters in New York and California especially hard). All of this is to pay for scrapping the Automatic Minimum Tax, a tax that needs to be fixed so it stops hitting middle class taxpayers, but not scrapped completely.
Word is? We're headed for a national sales tax. Stay tuned.
In the meantime, start getting ready for the day your company eliminates its health coverage--because with no incentive to keep giving it to you, there will be a LOT of pressure from Wall Street on companies to increase profits by forgoing this "frivolous" spending.