Barney Frank is on “Viewpoint” today to talk about the easiest and fastest way to reduce the deficit. Frank says raising taxes on the highest bracket of income earners is significantly more effective than closing loopholes and cutting deductions:
Here’s the deal: You say, ‘OK let’s see what we can do in deductions.’ And then you say to people, ‘Do you want to go after the home mortgage interest deduction? … [Or] the charitable deduction, the health care deduction, and then of course there’s the oil companies’ special breaks and some of the corporate ones. … [Raising taxes on the wealthy] is a cleaner way to do it and politically it’s less damaging.
Tune in for the whole interview today on ‘Viewpoint’ at 8E/5P on Current TV.