There are two [at least] problems with Obama's demand that the top one percent pay their "fair share." First, fair share is undefined. Second, by anyone's definition [100%?] it represents only a dent in our financial problems. Nevertheless, the request contributed to Obama's reelection and may have been decisive.
Concerning deductions, everyone seems to ignore the elephant in the room, namely: tax-free interest on state and municipal bonds. Why do you suppose that is?
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