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As President Obama and congressional Republicans argue over how to rewrite the U.S. tax code, the debate has revolved around "loopholes" for corporate jets and ending "carve-outs" for well-heeled special interests. But if the goal is debt reduction, that's not where the money is.
Broad tax breaks granted to millions of families at all income levels dwarf the corporate giveaways. Over the past two years, largely because of these popular benefits in the federal income tax code, the government has reached a rare milestone in tax collection — it has given away as much as it takes in.
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Lori Montgomery 18 Sep, 2011
Lori Montgomery --
Source: http://feeds.washingtonpost.com/click.phdo?i=d273eab84f132c3b9f45acc1ef42a184
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