Cost of tax breaks

[Luddly Neddite]

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?

 

[boedicca]

What a false dilemma.

A better topic would be the costs of taxes themselves to our economy.

 

[Zoom-boing]

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?

 

[Mr. H.]

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?

 

[Trajan]

re-distribute it, you see, unemployment etc. is a wonderful economic tonic

 

[Trajan]

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?

becasue in the whacky world of the left, your labor belongs to them first, they just let you keep what they wish or have to.....

 

[Rozman]

The Libs keep talking about paying your fair share of taxes...
Just look at how much money is wasted on the interest payments we have to make on our staggering debt.

Imagine if we had that money to use....

Why aren't the Libs concerned about that?

 

[Stephanie]

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?

they don't think they way...I can't believe they push such crap

 

[Luddly Neddite]

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.

 

[Mr. H.]

Oops. Clean debate LOL

 

[Stephanie]

something wrong with people who whines about the people getting some of their OWN MONEY back from this BLOATED government with tax cuts.....the government can CUT DOWN or go beg on the streets for all I care

 

[Mr. H.]

that was close

 

[Dont Taz Me Bro]

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?

The more money out of the government coffers, the better.

 

[Dont Taz Me Bro]

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?

Buy votes from the weak minded, the lazy, and the stupid.

 

[Stephanie]

that was close

lol, you talken to me

 

[Dont Taz Me Bro]

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?

 

[whitehall]

The phrase "cost of tax breaks" is an oxymoron unless you believe all money belongs to the government and they only let us use it for a while. In that case you are a moron promoting an oxymoron.

 

[Mr. H.]

The vast majority of business "tax breaks" return the government far more than it "costs" the government. Where the hell is the incentive to reinvest when you can't deduct your input costs?

And Obama wants to pull over $40 billion in ordinary deductions from oil and gas that are afforded every other industry in this country?

I used to get a state sales tax deduction on my equipment purchases, just like the farmers get.
About 10 years ago that little fucker Blagojevich pulled the plug on that one.
Then, a month later he proudly announces sales tax abatements for the movie industry in order to attract Hollywood to Chicago.

Goddamn moronic Liberal turds.

 

[Trajan]

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.

your use of the loaded nebulous term, "wealthy" is, well, not conducive to debate, be specific, very specific....go ahead.

 

[noose4]

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?

Because it didnt exist
The Democratic Super Majority Myth | 538 Refugees