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The Obama Administration's Silly Math on Deduction Limits

Limits on income tax deductions could raise a lot of money, as I've said -- perhaps more than $1 trillion over 10 years -- in a way that also makes the tax code much more progressive. Now come Jason Furman and Gene Sperling, two of President Barack Obama's top economic advisers, to say they would raise much less. But that's because they impose unwise restrictions on the new cap.

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