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After railing against Republican tax cuts for the rich and fiscal irresponsibility, Democrats will face enormous pressure to pass a hugely expensive tax cut -- without any way to make up the revenue.The alternative minimum tax, which slaps an extra income tax on many higher-income people, was installed by Democrats in 1969 to make people with high incomes pay their fair share. However, because the rate was never adjusted for inflation, many more people each year become subject to the tax. Congress has made temporary fixes by approving short-term increases in the exemption amounts, but Republicans have resisted a long-term fix. But a permanent solution could cost a trillion dollars over 10 years.San Francisco Chronicle
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