Rep. Rangel Unveils 'Mother of All Tax Bills'

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Rep. Charles Rangel (D-NY) unveiled Thursday what he calls "the mother of all tax bills."

It's actually two plans: a grand $1 trillion scheme telescoping to where Democrats are going with taxes in 2009 and beyond; and a more immediate $65 billion measure that would patch the alternative minimum tax so it doesn't snag millions of middle-class taxpayers.

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