Politicians and policy makers always seem to be talking about “broadening the tax base” and “eliminating tax loopholes,” but rarely do we hear specifics.
The problem is that somebody always depends on those so-called “loopholes,” whether it’s a large corporation or a small business, a millionaire or somebody living paycheck to paycheck. In recent months, the debate over Republican presidential candidate Mitt Romney’s tax proposals has led to rampant speculation over who would be helped and harmed by his tax policies should he win claim to the Oval Office in November.
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