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ON AMT:

MR. THOMPSON: Well, in the first place, I don't buy the concept that any reduction in taxes is lost revenue to the government. The taxpayers haven't lost it. It's in their pocket. They know exactly where to find it.We shouldn't confuse the wealth of government with the wealth of nations. Just because the money is sent to Washington doesn't mean that people are any richer. In fact, just the opposite is the case. As you pointed out, the AMT was designed for the -- to target the rich guy. And when the Democrats start targeting the rich guy, if you're a middle-class guy you ought to run to the other side of the house because you're going to get hit. They're not going to be on target. And this is another one of those cases; you point out we're going from about 4 million people covered now to over -- over 20 million people.What we're going to have to do, though, is look at this as part of a total picture. Generally speaking, lower taxes and lower tax rates grow the economy. It's been proven in the '20s, it was proven during the Kennedy administration, proven during the Reagan administration and again during this administration. I would apply that same principle to the AMT. It ought to be phased out. I think the responsible thing to do, though, until we get a handle on our mandatory spending side of the ledger, is to index it for inflation and fix it for another year while we look at the budget in total.

ON GETTING CONGRESSIONAL APPROVAL FOR IRAN ATTACK:

MR. THOMPSON: On this question? Yes, I think that -- I think John has it right. I would add that under the War Powers Act there's always a conflict between the Congress and the president as to the exact applicability of that when an engagement lasts for a particular period of time and when they must come before Congress. I don't think anybody running for president should diminish the powers of the office before he gets there and take side in a hypothetical dispute. But I would say that in any close call, you should go to Congress, whether it's legally required or not, because you're going to need the American people, and Congress will help you. If they are voting for it or they support it, or leaders, especially in the opposite party, are convinced in looking at the evidence that this is the right thing to do, that will help you with the American people. And we have learned that over the long term, in any conflict, we've got to have the strong support of the American people over a protracted period of time.

topics:
Taxes, Iran