Originally Posted by BigRedChief
Only in your own mind pal.
Closing loopholes is raising taxes. We need to increase revenue, cut spending and reform entitlements. It is obvious to anyone who looks at our situation realistically. the problem is politics, on both sides of the aisle, getting in the way of what is right for the country.
I'm not sure I've ever seen you say something correct about tax policy. Closing loopholes is raising taxes, but raising taxes is not the same thing as closing loopholes. For example, an increase in the top tax rate is not closing a loophole. Creation of the alternative minimum tax or implementing the Buffett Rule (which is essentially a second AMT) are not closing specific loopholes. It's like using a chainsaw instead of a scalpel for surgery.
The Buffett rule might coincidentally counteract some loopholes, but at the same time, it counteracts legitimate deductions too.