OECD: High-income Americans should pay more taxes

Associated Press + More

By MARTIN CRUTSINGER, Associated Press

WASHINGTON (AP) — An international group of economists is recommending that the United States adopt policies that would make higher-income Americans pay more in taxes to help boost the U.S. economy.

The Organization for Economic Co-Operation and Development favors eliminating some tax breaks for high-income individuals on mortgage interest and health insurance. It also proposes reducing tax breaks corporations receive when they borrow to make investments.

Some of the ideas the group is advocating have been championed by the Obama administration. The Paris-based group also endorsed job training proposals in the administration's 2013 budget and praised its efforts to expand mortgage modification programs to combat foreclosures.

The OECD tends to advocate left-leaning economic policies. The endorsements are unlikely to sway Republicans in Congress who have opposed proposals the Obama administration has pushed.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.