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Tax breaks benefit rich households the most, report says

Publié par Clifford Armion le 30/05/2013

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Lisa Mascaro

WASHINGTON — Federal income tax breaks disproportionately benefit wealthier households, according to a report issued Wednesday that is certain to become ammunition in the budget battles as Congress debates the best ways to reduce Washington's deficits.
The nonpartisan Congressional Budget Office found that the top 10 major tax breaks "are distributed unevenly across the income scale," with the top 1% of households — those who make more than $450,000 a year — receiving more than 17% of the savings in 2013.
Totaling $900 billion a year, the top tax breaks include the mortgage-interest deduction, the low rate on dividends and capital gains, breaks for charitable giving and the tax-free status of employer-sponsored healthcare plans.
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"Tax breaks benefit rich households the most, report says", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), mai 2013. Consulté le 14/07/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/tax-breaks-benefit-rich-households-the-most-report-says