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Libertarians

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Real Tax Reform

One of the things that bothers me is with all the talk about taxes, none of these politicians seem to know anything about taxes. Of course, the public knows even less, so these politicians never get called on these topics (rare exceptions). That would be the job of the press, but tax discussions will bore readers, assuming journalists outside of the WSJ have the wherewithal to intelligently discuss the topic.

So the main topics discussed by the left, even if they don't know it -- that causes low AVERAGE tax rates for some higher tax payers:
1. Tax exempt interest, primarily municipal bonds -- dos progressive want to tax this (there's a Constitutional issue here also).
2. Charitable Deductions -- do they want to eliminate this?
3. Capital Gains preferences -- when cap gain rates were reduced -- tax revenue from cap gains increased because of more activity -- do they want to eliminate this?

You can change marginal rates, but average rates will stay low as long as the above remains. Do progressives really want to eliminate 1,2,3?

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