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In Fiscal Cliff Talks, Higher Taxes Vs. Closing Loopholes

The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. President Obama wants to raise tax rates for the wealthy. Republicans want to raise revenue by closing loopholes and limiting deductions for high-income people. But could that raise enough money?

Source: In Fiscal Cliff Talks, Higher Taxes Vs. Closing Loopholes