The GOP knows that the loopholes and deductions will never be closed, but as long as they refuse to propose anything definite, no one will fight against them. As soon as someone brings up a loophole closing (and they want the Democrats to do it), it’ll be shot down. Look how the GOP blocked every attempt to make hedge fund managers pay income taxes instead of using the carried interest loophole. Sorry, the rates on income (especially on interest, dividends, and capital gains) need to go up or the rich will never pay their fair share. Sheldon Adelson DID get something for his $150 million — the GOP are happy to let the Obama tax cuts expire for working people, but will never raise Adelson’s rates.
The GOP knows that the loopholes and deductions will never be closed, but as long as they refuse to propose anything definite, no one will fight against them. As soon as someone brings up a loophole closing (and they want the Democrats to do it), it’ll be shot down. Look how the GOP blocked every attempt to make hedge fund managers pay income taxes instead of using the carried interest loophole. Sorry, the rates on income (especially on interest, dividends, and capital gains) need to go up or the rich will never pay their fair share. Sheldon Adelson DID get something for his $150 million — the GOP are happy to let the Obama tax cuts expire for working people, but will never raise Adelson’s rates.