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Mitt had one idea worthy of serious consideration: Cap deductions!

Bo-4

Senator
Combined with Clinton level taxation on income over 250k, a 25% tax on capital gains, no repeal of "death tax", and cutting our military budget in half.. we'll be on a good path my friends.

The wealthy could see their tax burden go up by an average of $14,000 if lawmakers limit itemized deductions as part of a fiscal cliff deal. Taxpayers with adjusted gross incomes of $250,000 or more deducted an average of nearly $91,000 in 2010, according to a CNNMoney analysis of Internal Revenue Service data. If Congress limits deductions to $50,000, folks in this income bracket would be hit harder than others.

http://money.cnn.com/2012/12/10/news/economy/rich-tax-deductions/index.html?iid=SF_E_Lead
 
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