Tax Principles

The Washington Post told readers:

"both sides agree that as a principle, keeping tax rates low while eliminating deductions is better than increasing tax rates."

While this is true as a general principle, the preference for lower rates is considerably more complex than the statement implies. In almost any scenario of trading off lower rates for fewer deductions, the very wealthy end up ahead. Not everyone views this as desirable.

Also, the limiting of deductions is likely to pose problems for...