Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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From: Kenneth E. Phillipps	4/14/2011 3:47:16 PM
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Tax expenditures which could be cut to reduce the deficit. Below are the ten that made the JCT list, and the total projected costs of each of them over the five years from now till 2014: •Tax exclusion for employer contributions to health insurance: $659.4 billion •Deduction for mortgage interest on owner-occupied houses: $484.1 billion •Lower tax rates for dividends and long-term capital gains: $402.9 billion •Tax exclusion of pension contributions (defined-benefit): $303.2 billion •Earned income tax credit: $268.8 billion •State and local tax deductions: $237.3 billion •Exclusion of pension contributions, 401(k)-style: $212.2 billion •Exclusion of capital gains at death: $194 billion •Charitable deductions: $182.4 billion •Untaxed Social Security and railroad retirement benefits: $173 billion nationalreview.com

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