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Will Obama Reluctantly Buy Into Base-Broadening Tax Reforms That Also Lower the Rates?

ryoung292 Wrote: Mar 08, 2013 9:09 AM
It is time to simplify the tax codes. Simplification everybody pays more!

WASHINGTON - President Obama has been pleading with House Republican leaders lately to raise government revenues by overhauling the tax code to erase loopholes and other income exemptions.

It wasn't an idea he campaigned on last year, though the chairmen of his deficit reduction commission proposed doing just that in a report he shelved. But they also wanted to use the higher revenues to offset lowering the tax rates in order to boost economic growth, jobs and investment, which in turn would boost tax revenues and reduce the deficits.

But cutting tax rates doesn't play well with Democratic voters or...