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What Would You Give Up To Reduce The Deficit?

Whether it comes with the fiscal cliff or a longer-term deal to restructure the income tax code, Congress will be looking at "closing loopholes" in the tax code. That also means it will be looking at popular deductions many of us use - the deduction for mortgage interest, tax-free health insurance and possibly even the charitable deductions. You'll probably be shocked to hear the hundreds of billions these popular deductions cost. So what tax deductions would you give up to help reduce the federal deficit?
 
GUESTS
 
David Cay Johnston, author of "Free Lunch" and "The Fine Print"
Kolleen Kelley, President, Greater Las Vegas Association of Realtors
Cassie Palmer, President, United Way of Southern Nevada

 

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