Attempting to try and eliminate loopholes and deductions in the current personal and corporate income tax codes is a futile exercise. It too a long time to accumulate the current code and would take far too long to reform, taking into account how these deductions came into being to begin with. It would be far easier to simply start with a set of brackets, choose standard deductions, and adjust them based on revenue projections versus the needs of a trimmed down federal budget. Standard deductions and credits should be well based to take into account state and local taxes and housing costs (mortgage or rental). There should then be no option to itemize for most people, nor an option to get additional deductions for states with higher taxes, state taxes are a state issue.



