USA TODAY: …..There’s really nobody discussing tax reform or deficit reduction who is not suggesting we need to eliminate a whole bunch” of tax breaks, says Clint Stretch, tax principal for Deloitte Tax in Washington, D.C.
Yet, any attempt to take away tax breaks faces a barrage of lobbying by vested interests, ranging from the real estate industry to arts groups. And while taxpayers support the idea of lowering the deficit, most are deeply devoted to their tax breaks. A USA TODAY/Gallup Poll found that more than 60% oppose eliminating deductions for mortgage interest, charitable contributions and state and local taxes in exchange for lower tax rates. The majority also opposed giving up deductions as part of a plan to lower the federal deficit.
There was no significant difference between Democrats and Republicans, or liberals and conservatives, in the responses. Americans with higher incomes were more likely to oppose eliminating deductions, but even a majority of those who don’t claim the deductions said they opposed eliminating them…. (more)
