Source: Future of Freedom Foundation
by Laurence M Vance
“Libertarians who say that certain tax deductions and credits are loopholes that need to be closed argue that these loopholes distort the tax code, are inefficient, subsidize high-income taxpayers, interfere with the free market, and encourage people to make economically unwise decisions. They may be all those things and more, but what is the effect of reducing, phasing out, or eliminating them? The effect is higher taxes and more revenue for Uncle Sam. … Only those who think that the government has an absolute right to a percentage of all income produced and that tax deductions and credits deprive the government of its claim to that percentage could object to individuals holding on to more of their money.” (08/07/25)