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View Diary: The Real Spending Problem: TAX BREAKS (21 comments)

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  •  the biggest tax subsidies impact the middle class: (4+ / 0-)
    Recommended by:
    Eddie L, Superpole, coffeetalk, VClib

    far and away the largest is the exclusion of employer health insurance premium payments.  I don't think there's anything objectionable with correcting carried interest taxation (in fact, I'm a fan, and I've written several diaries to that effect) or limiting the size of IRAs, but those changes won't gain much in the revenue. (the NY Times estimate of extra revenue treating carried interest as ordinary income, for example, is almost certainly overstated.  I've spoken with fund managers, and they're already working on ways to change their deal structures, whether that be altering the structure of their comp or just reducing it or changing to less risky business models.)

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