Thursday, December 13, 2012

Not A Puzzle

The kinds of "loopholes and deductions" that anyone ever contemplates getting rid of would only have a relatively small impact on the tax bill of a rich person. Those things generally benefit people who earn good money but who aren't the 1%. Truly rich people don't care much about the mortgage interest deduction or that employer health benefits aren't taxed, and there's no chance Mittens would have supported ending the tax avoidance strategies for rich people that he devoted his life to.

The only way to soak the rich is to increase the top marginal rate.