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"OS if you look at the cost to income tax revenue of the Mtg. int. deduction ALONE, that would almost balance the budget! Add in almost anything from the high and lower incomes who now don't pay ANY income tax and there would be a surplus!" Posted by krlklar
Even better would be to eliminate all preferential income tax rates (such as carried interest, dividends, etc.) and to remove all CAPs & exclusions from FICA taxes. The increased revenues from that combination would solve our so-called entitlement funding problems and go a long way in reducing the debt. Anything that is done must increase the progressiveness of the tax system as the current one has helped create obscene inequality, redistributing from the majority to the wealthy minority. We need to get the plutocrats' hands out of the 99%'s pockets when considering any tax policy.