Host Ric Young talks with Brad Borden, Professor of Tax Law at Brooklyn Law School:

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Borden says the main issue is how "loophole" is defined. One major issue is the detectability of CEO pay, but other ambiguities benefit homeowners, such as mortgage deductions. However, Borden says, there is a question of whether the mortgage deduction really helps homeowners, because it makes the cost of their homes go up, benefiting bankers and realtors more than the owners.

It's also unclear as to whether the loophole closing will even make up for the trillion in deficit. Even more radical changes than closing loopholes in mortgage deductions would be needed, Borden says, but public resistance to such measures would make it difficult for them to get support.