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Tax Reform II: Lower Rates; Eliminate Deductions
 
Tag: Tax deduction
Tax Reform II: Lower Rates; Eliminate Deductions

As Congress considers tax reform, the focus on the personal income tax should be to lower rates and eliminate all deductions except for a standard deduction that applies to everyone. Lower rates enough to offset the increased revenue from eliminating deductions, and set the standard deduction at a level that raises the same amount...
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