@Anonymous wrote:That is one of the suggestions that the debt commission made, but only one of them. The chances for this are almsot nil becuase it says 2 things...Get rid of ALL deductions, and reform the tax tiers based on zero deductions. This will never even make it to the floor because it would be political suicide for both parties. Dems would loose support because all of the middle class depedn on that deduction and do not trust the gov't enough to lower the tax rate to equal out the difference. The repubs would get killed by all of the rich and the corporations who need their tax loopholes because even though they make alot of $, they pay much less % in taxes due to the different loopholes and the different ways they make money (dividends, etc) verses standard w2 employment.
OMG! That is hilarious! What a mental picture you have planted in my head! Love it!
When I heard about the proposal to drop the interest deduction, my first thought was "Not Gonna Happen." Your explanation is excellent, and I don't think I could have said it any better.
Thanks for the laugh on this cold Monday morning, Mickey. 