President: Raise Taxes Again to Decrease Deficit

President: Raise Taxes Again to Decrease Deficit
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Sunday, the President stated additional tax revenue is needed to reduce the country’s current deficit. The targets of this tax increase will be the private equity industry and hedge fund managers. The President’s proposal will include closing tax loopholes such as “carried interest”.  In a CBS interview, the President did mention “smart spending cuts” in government waste and an investment in education were needed to also curb the deficit; however, the President has yet to specifically name where cuts should be made.

Click here to read the full Reuters article. 

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