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Using Textbook CCH Federal Taxation: Basic Principles. Smith, Hamerlink, Hasselback. 2016 Edition. Please answer in 3 pages the following questions.
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1 – Clearly, individuals are carrying a much heavier tax burden than corporations. Is this justified?
2 – Some economists have argued that corporate taxes should be eliminated and that only individual taxes should be paid. Explain.
3- Read 6570 Student Loan Interest. Recently, there has been a debate that taxpayers should be able to deduct all, as opposed to a cap of $2500.00, student loan interest in the same way that home owners are allowed to deduct all of the interest of a home mortgage.
In your opinion should the deduction for student loan interest be capped or should taxpayers be able to deduct the entire amount? Why?
Due date: Wednesday 04/15/2020
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