Of Liberals and Loopholes

[Draggingtree]

The Wall Street Journal :

 

Updated December 16, 2012, 7:21 p.m. ET

 

Opinion

 

Of Liberals and Loopholes

 

The current tax code favors high-tax states.

 

One post-election budget surprise has been President Obama's resistance to John Boehner's proposal to get $800 billion in new revenue by closing tax loopholes. Here's one likely reason: the high tax rates of his blue-state Democratic brethren.

 

One of Mr. Boehner's ideas, taking a cue from Mitt Romney, would impose a limit on annual deductions. During the campaign Mr. Romney suggested a range for a deduction cap, anywhere from $17,000 to $50,000 a year, and many liberal pundits praised the idea on equity grounds.