I’m hoping some expert will do the fact check. IF you limit deductions to 17k, how much do you raise ? Romney blew it, he should have said if I was limited to 17k in deductions I would have paid an additional X millions in tax in 2010 and 2011. Buffett would have paid an additional 5-10 million in tax per year, who knows what the numbers are ? I think we should limit deductions to say 75k - 100k so that lower income people can still write off mortgage interest or they might kill the housing recovery. If Romney adds in a 20 % tax on unrealized gains donated and sold by foundations , tax owed at the time of sale , he can still win this election. Looking forward to the latest polls, it might be a dead heat again, the most important election of our lives.
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