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As I write this column on the day of the first presidential debate, taxes are all over the media and, no doubt, on the minds of many Americans, and the subject of many discussions.

The controversy of whether President Trump, over the last decade or so, paid his fair share of taxes (whatever that means – clearly different things to different people) seems to be the main tax issue. However, that controversy brings up a whole set of other controversial issues that people disagree on, including valid deductions, loss carryforwards, lower capital gains rates, favorable corporate tax rates, and so much more.

That seems to always take us to the question of whether the Democrats, if they take the Senate and the presidency, will raise taxes, and/or eliminate the recent tax cuts, which, despite all the talk of how they helped the very rich, put more money in the pockets of many not very rich Americans.

Read More: PERSONAL FINANCE/JOHN NINFO: Taxes, taxes, taxes!

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