Tax Analysts Weigh In On Tax Policy Debate With Top Five Burning Tax Questions For President Obama And Governor Romney

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Tax Analysts

Oct 03, 2012, 12:47 ET

FALLS CHURCH, Va., Oct. 3, 2012 /PRNewswire-USNewswire/ -- As the final weeks count down in an election season that has been dominated by tax policy discussions, the two presidential candidates will face off on Wednesday, October 3 for the first of three presidential debates. Tax Analysts, a nonprofit, nonpartisan provider of tax news and analysis, asked its experts to outline the top five questions they would ask the candidates concerning tax policy. 

Their response:

  1. Tax Loopholes. Should eliminating what some refer to as tax loopholes be considered tax increases?
  2. Mortgage Interest Deductions. Why should we allow mortgage interest deductions on second homes?
  3. Capital Gains. Should the preferential tax treatment for capital gain income be eliminated and replaced with the Buffett Rule?
  4. Tax Fairness. Are the 40-plus percent of U.S. citizens who do not pay federal income taxes or those who receive generous tax benefits such as tax-free health care freeloaders?
  5. Fiscal Cliff. Would either candidate consider a temporary extension of the existing tax cuts or other short-term solution to avoid the fiscal cliff and restore investor confidence by January 1, 2013?

"No election in the modern era has been as dominated by tax policy as the 2012 election," noted Tax Analysts' publisher Christopher E. Bergin. "Between the usual election year tax disclosure mud-slinging and a kick-the-can-down-the-road Congress that has left us facing a fiscal cliff, 2012 will go down in history as a perfect storm of tax policy failure and handwringing. It's time that both candidates stop sacrificing policy for politics and signal to the American people that a saner, more comprehensible tax policy is in the future."

Tax Analysts will host a roundtable discussion on Taxes and the Poor on Friday, October 12, 2012 at the National Press Club in Washington, DC. The discussion will be moderated by Bergin and will feature C. Eugene Steuerle, Institute Fellow from the Urban Institute; David Brunori, Executive Vice President of Tax Analysts; Scott A. Hodge, President of the Tax Foundation; and Chuck Marr, Director of Federal Tax Policy for the Center on Budget and Policy Priorities. For more information, contact Genilson Brandao at 703-531-4810.

About Tax Analysts:
Tax Analysts is an influential provider of tax news and analysis for the global community. More than 150,000 tax professionals in law and accounting firms, corporations, and government agencies rely on Tax Analysts' federal, state, and international content daily. Key products include Tax Notes, Tax Notes Today, State Tax Notes, State Tax Today, and Worldwide Tax Daily. Founded in 1970 as a nonprofit organization, Tax Analysts has the industry's largest tax-dedicated correspondent staff with more than 250 domestic and international correspondents.

CONTACT:
Jennifer Devlin, 703-876-1714
Genilson Brandao, 703-531-4810

SOURCE Tax Analysts

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