There is a good reason why the tax code is thousands of pages long: It is full of tax exemptions & deductions targeting cronies & crony groups. This is why Buffet & Soros support higher rates. They wont pay them no matter how high the rates are.
Buffet, by the way, owes billions of back taxes he has not paid. But, crony tax law keeps him out of jail while the average American would be impoverished & in jail for such tax delinquencies.
Frankly, I don't know why* Boehner & Co. fight the higher rates for the rich**, which includes Boehner & Co. The rich will simply rearrange their finances to continue to avoid paying taxes as they have always done. Real tax reform would get rid of 20,000+ pages of loopholes in the tax code. Buffett & Soros would squeal like stuck pigs if this were to happen.
* Actually, I do know why: To avoid real tax reform. Both sides are equally guilty as both sides have their pet deductions & exemptions.
**I do not consider $250,000 income as rich. These people & small business owners are middle class, at best. This Obama number was always too low & is another betrayal of the middle class by Obama. One million dollars in income is where the upper bracket should begin, yet few pols are arguing the $250k is too low.
Republicans vs. Democrats: Maybe A Dime's Worth Of Difference
~ Larry Elder, "The Ten Things You Can't Say In America"
righto on the $250,000 democrat clap trap about the rich, Clinton and company pulled that out back in the 90’s as the target, and like most things are never adjusted for inflation.
Gold $300 an ounce when $250,000 made you a millionaire in the 90’s. That $250K in gold then would be $1.5 million today.
They are kleptocrats. Stealing is the business they are in today.
Join me in disgust! Save the despair for a rainy day.
Our day will come.
0bama also does not want his loopholes closed