NACBA
12-10-2014, 07:50 AM
The former secretary of labor explains why the party is to blame for one our most destructive tax loopholes
http://media.salon.com/2014/01/robert_reich-620x412.jpg
In Washington’s coming budget battles, sacred cows like the tax deductions for home mortgage interest and charitable donations are likely to be on the table along with potential cuts to Social Security and Medicare.
But no one on Capitol Hill believes Wall Street’s beloved carried-interest tax loophole will be touched.
Don’t blame the newly elected Republican Congress.
Democrats didn’t repeal the loophole when they ran both houses of Congress from January 2009 to January 2011. And the reason they didn’t has a direct bearing on the future of the party.
http://www.salon.com/2014/12/10/robert_reich_democrats_enable_the_super_rich_partn er/
http://media.salon.com/2014/01/robert_reich-620x412.jpg
In Washington’s coming budget battles, sacred cows like the tax deductions for home mortgage interest and charitable donations are likely to be on the table along with potential cuts to Social Security and Medicare.
But no one on Capitol Hill believes Wall Street’s beloved carried-interest tax loophole will be touched.
Don’t blame the newly elected Republican Congress.
Democrats didn’t repeal the loophole when they ran both houses of Congress from January 2009 to January 2011. And the reason they didn’t has a direct bearing on the future of the party.
http://www.salon.com/2014/12/10/robert_reich_democrats_enable_the_super_rich_partn er/