59156309 - tax deductions written on a paper. financial concept.

Interest Groups and Tax Reform

In a recent post in The Beacon, I said that President Trump’s tax reform proposal is a move in the right direction. But I find part of it very troubling: He wants to keep the mortgage interest deduction and the deduction for charitable contributions for individual taxpayers.
Both of these deductions have reasonable justifications, but so do a host of other deductions; both those in the current tax code and some that various interest groups would like to see added. Arguing that these two should be kept rather than eliminating all deductions speaks to the power of the interest groups that

Read more at The Independent Institute