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Should the deduction for student loan interest be capped

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CCH Federal Taxation: Basic Principles. Smith, Hamerlink, Hasselback. 2016 Edition. Please answer in 3 pages the following questions.

Question 1: Clearly, individuals are carrying a much heavier tax burden than corporations. Is this justified?

Question 2: Some economists have argued that corporate taxes should be eliminated and that only individual taxes should be paid. Explain.

Question 3: Read 6570 Student Loan Interest. Recently, there has been a debate that taxpayers should be able to deduct all, as opposed to a cap of $2500.00, student loan interest in the same way that home owners are allowed to deduct all of the interest of a home mortgage. In your opinion should the deduction for student loan interest be capped or should taxpayers be able to deduct the entire amount? Why?

Reference no: EM132497633

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