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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Monday, February 04, 2013

Lose those loopholes

They're often thought of as the Chicago Twins, and Deval Patrick and Barack Obama are on the same track again.

Obama is following the lead of friend and political doppelganger by telling a Super Bowl audience that there's a lot of tax revenue to be mined by closing loopholes. It sounds an awful lot like Patrick proposed -- even if he didn't talk about it -- in his fiscal 2014 budget.

Of course the devil is in the details and enterprising businessmen and women are always looking for a new subsidy from the government to fatten their margins.

There is serious pork layered throughout both budgets: one need look now further than the breaks for large agribusinesses and oil and gas companies or the Massachusetts tax expenditure budget.

So it''s a little distressing to see the talk around the Massachusetts budget focusing on deductions for college tuition and child care. And nationally, a lot of the talk has been around trimming or eliminating tax breaks on mortgage interest and health care premiums.

Business has the cash to pay for lobbyists to protect their breaks. But true tax reform should hit both corporations and individuals if it is to be fair.

And as of now, there are very few lawmakers looking out for the people who speak in votes rather than cash.

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Anonymous Anonymous said...

Where is the mainstream media in all this, in someone's pocket? If it was highlighted that (theoretically) 20 farms in Iowa, with sales of 5 million plus, were getting a million in subsidies, don't you think there would be some action?

February 04, 2013 6:42 AM  

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