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  • There's a tradeoff. Yeah, I lose the deduction that I really like, but my tax rate is going to go down, and I don't have to fill out that form anymore. It's much simpler, rates are lower, and that tradeoff has worked in many countries. Many countries have just cleaned house of all those exemptions in order to provide lower rates, and people buy it.

    Source: www.pbs.org
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