These are all relatively modest measures. (We centrists always try to balance idealism with realism.) Unfortunately, the larger opportunities for broad tax reform or a grand bargain on long-term deficits and debt are unlikely to come until after the election -- and there's no rational reason to expect that the hyperpartisan politics will end then.

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The prime example is the so-called Super Committee charged with arriving at a grand bargain on the long-term budget, taxes and spending.

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Although qualifying ISO dispositions can be reported as long-term capital gains on the 1040, the bargain element at exercise is also a preference item for the Alternative Minimum Tax.

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