"For that matter, how many
of the ordinary Americans signing on to the Fix the Debt initiative want to
sacrifice their mortgage-interest deduction or exemption for employer-provided
health-care benefits? There is a constituency for every loophole. More than
half the lobbying in this country is related to the tax code, which is just one
of the many reasons to strip it down to its bare essentials, like a couple of
flat rates.
"Based on past efforts, and limited success, in attacking deductions and exemptions, the best we can probably hope for is something Republican presidential nominee Mitt Romney proposed: a cap on itemized deductions for high-income earners. If that's what reform looks like, the tax code will continue to encourage inefficient behavior to the detriment of the economy."
http://www.bloomberg.com/news/2012-11-14/my-name-is-uncle-sam-and-i-m-a-
debt-a-holic.html
"Based on past efforts, and limited success, in attacking deductions and exemptions, the best we can probably hope for is something Republican presidential nominee Mitt Romney proposed: a cap on itemized deductions for high-income earners. If that's what reform looks like, the tax code will continue to encourage inefficient behavior to the detriment of the economy."
http://www.bloomberg.com/news/2012-11-14/my-name-is-uncle-sam-and-i-m-a-
debt-a-holic.html
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