October 26th, 2010
12:23 PM ET
10 years ago

Bye-bye, tax breaks?

New York (CNNMoney.com) - Who says there's no bipartisanship? Democrats and Republicans running for Congress are finding every way possible to assure voters they will keep Americans' taxes low forever.

But those will be hard promises to keep after the economy recovers. Tax experts almost uniformly say the next Congress should rethink the more than 200 tax breaks in the federal code that cost more than $1 trillion a year. And, yes, that includes even the really, really popular ones.

Filed under: CNNMoney.com • Congress • issues • Taxes
soundoff (4 Responses)
  1. Fair is Fair

    II think EVERYONE should have to file quarterly and remit 25% of the estimated due every 3 months. Maybe then, when everyone has to write that big check to the government every 3 months, people will pay a little bit more attention to where the taxes they're paying are being spent.

    October 26, 2010 12:54 pm at 12:54 pm |
  2. Gary

    Another analysis from a Marxist point of view. This article assumes the money is first the government's and is unfairly being spent by the government to fund these unfair tax breaks. It never even hints that perhaps much or most of Federal Government spending is the result of a system that has no inherent restraint. The only way out for this country is to remove the tyranny of Federal spending and borrowing, balance the budget and implement a system of taxation that treats each the same on a percentage basis and does not allow influence of political idealogy as the writer has expressed in this article.

    October 26, 2010 01:00 pm at 1:00 pm |
  3. R

    Well of course Republicans and Democrats can see eye-to-eye on this. Afterall, this is part of the process to get people to vote for them. It's sad to see both sides act like "women of the night," to do or say anything, just to get someone's vote. Pandering on the worst possible level.

    October 26, 2010 01:04 pm at 1:04 pm |
  4. Orlando Patriot

    Sounds to me like Barack Hussein Obama has been caught in a lie once again. Didn't he say that 95% of the population will "not pay a single dime more in taxes"? So if I am in the 95% who make less than $250,000 a year but they take away my tax deductions doesn't that INCREASE the amount I pay in taxes? So if I am paying more in taxes then didn't Obama lie about me not having to pay any more in taxes?

    Do you see Obama is playing all of you as fools and idiots? He tells you that you will not pay more taxes and the "rich" will take care of you but don't you see NOW that is not the case? He borrows 3 TRILLION dollars and gives to his supporters and union leaders and now YOU have to pay more in taxes to pay for it? What a corrupt, egotistical, and incompetent president we have. We will start the "fix" next Tuesday then remove Obama's useless self out of office in 2012.

    October 26, 2010 01:18 pm at 1:18 pm |