I agree the narrative that gets pushed during these elections usually is toxic and not accurate. It definitely would be more useful to a democratic candidate than a republican because of how they can play into tax reform. Yes, tax strategy becomes very complicated for wealthier people and a lot of the regulations in place are well-thought but take quite awhile to explain to an average Joe and that would never work on a debate stage to try to defend yourself.
With that said, this current tax debate does have me concerned that despite being characterized, most GOP candidates want certain things removed that massively impact the rich more than anyone else. For example, I see no reason in needing to raise the inheritance exception from where it's at let alone removing the cap completely and making everything tax free. Also, I think removing AMT is very very reckless to the issue you voiced above where a certain loophole could get a very rich person out of something. AMT serves to make sure that doesn't happen.