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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (43708)6/9/2010 8:23:44 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: "But the Wyden-Gregg proposal doesn't do that...."

I an NOT an expert on this particular proposal, but my understanding of it is that it closes a *lot* of loopholes ("thousands" I read in one news report).

Likely to lower rates any MORE then it does (and still reduce/eliminate deficits) they would have to take on the elimination of loopholes that are considered too popular and entrenched to get rid of....

For example things like the deductiblity of INTEREST on debt payments (economically an attractive idea to not favor debt over thrift and savings, but most likely politically not at all possible). After all, why should ONE FORM of capital raising - going into debt - be FAVORED by the tax codes over ALL OTHER FORMS of capital raising (such as savings... equity issuance, etc.)?
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