Budget fix without tax increase could wipe out deductions

11/21/2012 | New York Times (tiered subscription model), The

Finding $1.6 trillion in new federal revenue without raising tax rates would require eliminating just about every loophole and tax deduction available to high-income families. That includes preferential rates on investment income, which could prompt a market sell-off. Experts say party leaders could avoid that outcome with compromise approaches such as a cap on deductions.

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New York Times (tiered subscription model), The

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