Extreme Wealth

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4. Republicans, and Democrats, have messed around with our tax code for so long that much of it

makes no sense. We need a thorough revision that gets rid of a lot of special loopholes that apply to only a few billionaires, as well as revisions in what can be deducted and special taxes on our out-of-control CEO pay. If we had a simplified tax code, it would likely put millions of tax attorneys out of business, but maybe they could go work for the IRS to ensure that billionaires and big corporations pay their taxes.

I think we should also look at personal deductions. I have certainly benefitted from the property tax and mortgage interest deductions, but renters have no such benefits even though they’re essentially paying property taxes and loan interest for the apartment owner through their rent.

I would like to see President Biden appoint a special commission to evaluate our tax code and make suggestions for how to reduce our debt. It cannot be left to Congress because Republicans only obstruct and Democrats also have their big donors to keep happy.