by Dave Roberts » Wed Feb 05, 2014 11:43 am
My first places to level the tax burden would be in the deductions--cap mortgage interest at $50,000 per year, cut the huge deductions for speculative losses with a reasonable cap, and tax investment income the same as you tax regular income. Then you could begin to lower everyone's rates. Limit real estate tax deductions to the primary home and no more than one other home. Tax rates in this country are so phony because almost no one pays them.