Eliminating the deductions is equivalent to SUBSTANTIALLY increasing the tax burden on higher income earners. Now, if our economy were booming, as it was under Reagan, Bush, and Clinton, and we still had the debt and spending problems, maybe we could look at ways to reduce the number of deductions... but that isn't the reality we find ourselves in. At this time, it would be economic stupidity to raise the tax burden on wealth producers, because we depend on these people to bring the economy back to life.
This is one of those typical emotive issues the left has infiltrated into the argument, and moderate nitwits like SF seem to be John McCain Oblivious to. Yeah... let's get rid of all them 'deductions and loopholes' the 'rich' are using to screw the little guy! That's the ticket! It actually accepts the notion that wealth earners don't deserve what they make, aren't paying their 'fair share' and should have their gains confiscated by the government and redistributed to the needy. Fuckin' SOCIALIST!