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Originally Posted by Rathji
Deductions are a problem?
Like the I-have-3-kids-and-pay-less-taxes-because-of-it deductions, or were they just talking about bad deductions?
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I guess you can call them bad deductions.
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1. Tax Expenditures: $1.25 trillion
2. Tax Underpayments: $450 billion
3. Tax Havens: up to $250 billion
4. Corporate Taxes: $250 billion
5. Financial Transaction Tax (FTT): $500 billion
6. Payroll Tax: $300 billion
7. Estate Tax: $100 billion
The total surpasses $3 trillion. The figures may be on the high end, and there may be some overlap, and wealthy Americans may argue that much of it is legal. But the system of loopholes and deductions and exclusions is a statement by the rich that they don't have to pay for their lopsided share of benefits, and that middle-income Americans should give up their own earned benefits to pay the country's bills.
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http://www.huffingtonpost.com/2013/0...p_ref=business