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Top 20 pct of earners get half the benefit of top breaks
* Tax breaks on capital gains favor the wealthy
* Study favors Obama's approach to tax reform -Democrats
The top ten U.S. tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
The top 20 percent of income earners will reap more than half of the $900 billion in benefits from these tax breaks that will accrue in 2013, the non-partisan CBO said on Wednesday.
Further, 17 percent of the total benefits would go to the top 1 percent of income earners -- families earning roughly $450,000 or more. The same group that was hit with a tax rate hike in January.
The benefits of preferential tax rates on capital gains and dividends, a break worth $161 billion this year, go almost entirely to the wealthy, including 68 percent to the top one percent of earners.
CBO: Tax Breaks Cost $12 Trillion Over Decade, Benefit Most Wealthy
Top 20 pct of earners get half the benefit of top breaks
* Tax breaks on capital gains favor the wealthy
* Study favors Obama's approach to tax reform -Democrats
The top ten U.S. tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
The top 20 percent of income earners will reap more than half of the $900 billion in benefits from these tax breaks that will accrue in 2013, the non-partisan CBO said on Wednesday.
Further, 17 percent of the total benefits would go to the top 1 percent of income earners -- families earning roughly $450,000 or more. The same group that was hit with a tax rate hike in January.
The benefits of preferential tax rates on capital gains and dividends, a break worth $161 billion this year, go almost entirely to the wealthy, including 68 percent to the top one percent of earners.
Why don't tax payers demand change from their congress person? Why do we keep re-electing the same Republican congress people that rob us?
CBO: Tax Breaks Cost $12 Trillion Over Decade, Benefit Most Wealthy
Top 20 pct of earners get half the benefit of top breaks
* Tax breaks on capital gains favor the wealthy
* Study favors Obama's approach to tax reform -Democrats
The top ten U.S. tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
The top 20 percent of income earners will reap more than half of the $900 billion in benefits from these tax breaks that will accrue in 2013, the non-partisan CBO said on Wednesday.
Further, 17 percent of the total benefits would go to the top 1 percent of income earners -- families earning roughly $450,000 or more. The same group that was hit with a tax rate hike in January.
The benefits of preferential tax rates on capital gains and dividends, a break worth $161 billion this year, go almost entirely to the wealthy, including 68 percent to the top one percent of earners.
Why don't tax payers demand change from their congress person? Why do we keep re-electing the same Republican congress people that rob us?
You do realize that it isn't the government's money, it belongs to the person(s) that earned it, right?
CBO: Tax Breaks Cost $12 Trillion Over Decade, Benefit Most Wealthy
Top 20 pct of earners get half the benefit of top breaks
* Tax breaks on capital gains favor the wealthy
* Study favors Obama's approach to tax reform -Democrats
The top ten U.S. tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
The top 20 percent of income earners will reap more than half of the $900 billion in benefits from these tax breaks that will accrue in 2013, the non-partisan CBO said on Wednesday.
Further, 17 percent of the total benefits would go to the top 1 percent of income earners -- families earning roughly $450,000 or more. The same group that was hit with a tax rate hike in January.
The benefits of preferential tax rates on capital gains and dividends, a break worth $161 billion this year, go almost entirely to the wealthy, including 68 percent to the top one percent of earners.
Why don't tax payers demand change from their congress person? Why do we keep re-electing the same Republican congress people that rob us?
You do realize that it isn't the government's money, it belongs to the person(s) that earned it, right?
CBO: Tax Breaks Cost $12 Trillion Over Decade, Benefit Most Wealthy
Top 20 pct of earners get half the benefit of top breaks
* Tax breaks on capital gains favor the wealthy
* Study favors Obama's approach to tax reform -Democrats
The top ten U.S. tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
The top 20 percent of income earners will reap more than half of the $900 billion in benefits from these tax breaks that will accrue in 2013, the non-partisan CBO said on Wednesday.
Further, 17 percent of the total benefits would go to the top 1 percent of income earners -- families earning roughly $450,000 or more. The same group that was hit with a tax rate hike in January.
The benefits of preferential tax rates on capital gains and dividends, a break worth $161 billion this year, go almost entirely to the wealthy, including 68 percent to the top one percent of earners.
Why don't tax payers demand change from their congress person? Why do we keep re-electing the same Republican congress people that rob us?
Deductions, credits, and exclusions keep money circulating in the economy and it gets reinvested back into business activity.
What the fuck would the government do with all that money anyway?
that was close
The tax code for the 98% is very straightforward and relatively simple.
The tax code for the wealthy is not.
Those who can afford an army of tax lawyers and tax preparers are the ones who own congress. And, of course, the teepubs (aka Koch's little minions) will always protect them.
The tax code for the 98% is very straightforward and relatively simple.
The tax code for the wealthy is not.
Those who can afford an army of tax lawyers and tax preparers are the ones who own congress. And, of course, the teepubs (aka Koch's little minions) will always protect them.
The tax code for the 98% is very straightforward and relatively simple.
The tax code for the wealthy is not.
Those who can afford an army of tax lawyers and tax preparers are the ones who own congress. And, of course, the teepubs (aka Koch's little minions) will always protect them.
Why didn't the Democrats change this when they had a super majority in Congress from 2009 to 2011?
