Tax Politics

November 12, 2012 - 6:34 PM
FILE - In this May 17, 2012 file photo, Sen. Charles Schumer, D-N.Y. gestures during a news conference on Capitol Hill in Washington. Republican leaders say the government can raise tax “revenue” without raising tax “rates." But how? If Congress reduces itemized deductions, many Americans will still pay more taxes. This politically tricky tradeoff is about to take center stage in negotiations over averting a national "fiscal cliff.". (AP Photo/Susan Walsh, File)