Not the worst thing in the world, but I'm really not a fan of deductions and credits that phase out with income. I can see limiting the size of individual deductions, such as capping the amount of home mortgage interest that can be deducted, but not having the deduction itself phase out with income. If you want to soak the rich, up their tax rates.
And, yes, I get that there's no chance Republicans will go along with increasing top tax rates, and a teensy tiny (not really) one they'll go along with phasing out some deductions.
