05-05-2011, 06:47 PM
This is really a case of six of one versus half a dozen of the other. The only reason this might make sense is that the uneducated right wing masses have this horrendous fear of tax rate increases (which I think are necessary, since Bush dropped them below sustainable levels), but tend to overlook other measures (eliminating common deductions) that could have essentially the same effect.
That said, I do think that there are a lot of deductions that should be eliminated, notably the mortgage deduction (which completely warps consumer rent/buy decision-making and fuels the out-of-control housing market to consumer's detriment), and most agricultural and energy company deductions and allowances. One thing we should hang on to is deductions aimed at building up alternative energy industries (NOT including corn).
That said, I do think that there are a lot of deductions that should be eliminated, notably the mortgage deduction (which completely warps consumer rent/buy decision-making and fuels the out-of-control housing market to consumer's detriment), and most agricultural and energy company deductions and allowances. One thing we should hang on to is deductions aimed at building up alternative energy industries (NOT including corn).