Okay, again.. you fall into the trap of buying in to the liberal propaganda here... "loopholes" like what, exactly? You haven't specified any. Did we not have "loopholes" in the 90s? I suspect we probably did. Tax breaks for corporations? Didn't we have those in the 90s as well? Which specific "tax breaks" are you referring to? Can we discuss specifics, or is this just "as a general rule" kind of an argument? Because, I would point out, most every tax break, incentive, or "loophole" was created by someone for some reason or purpose, and to address some problem, most likely. So if we remove these 'incentives' you are calling "loopholes and tax breaks" then what is the resulting problem which will return, and can we deal with that? We have to objectively look at specifics here, I have no way of knowing or judging if something is valid or legit, when it comes to cost/benefit analysis on this, but we need to talk about it at least, don't you agree?
Now... let me clue you in on what Liberals mean when they squeal about "loopholes and tax breaks" ...they mean things like your mortgage interest deduction and your 401k account. That's what they want to do away with, but they are telling you it's only for the richest of the rich and corporations... that's the LIE part. In order to generate serious revenues by eliminating "loopholes and tax breaks" it will involve much of the middle class giving up tax deductions. Which now... maybe that needs to happen? Maybe the middle class should give up mortgage interest deductions and whatnot, that's a good debate we should have, perhaps... but let's be honest about that, and not deceive the people with rhetoric and propaganda.