[slowhandluke]

If loopholes, excepting mortgage and charitable deductions, are done away with, I’m okay with that

I'm not ok with my state taxes getting taxed again at the Federal level.

But I think that's the large pot of money he's going after.

Think of all those wealthy folks paying 7,8,even 10% in state and local taxes in NY, CA, and so on. The amount of taxable income jumps 7, 8, or even 10% when this kicks in.

[dixiechick2000]

Reagan raised taxes, but he lowered the tax rates dramatically. That’s because he did away with interest rate deductions, and the like.

If tax rates are lowered dramatically, all is well.

But, I don’t see that as being Barry’s objective.