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GOP Focuses on Millionaire Tax Breaks

Rich656 Wrote: Dec 18, 2012 6:08 AM
So the GOP has capitulated. And to what benefit? 130 billion over 10 years. 13 billion a year average. BFD! They're running trillion dollar annual budget deficits, but trimming tax deductions will get them an extra 13 billion a year. If I ran my household budget like that I'd be living in a box on Lower Wacker Drive in Chicago.
Lance8762 Wrote: Dec 18, 2012 8:02 AM
Let's see. the total wealth of the "Forbes 400" in 2011, was $1.5 trillion. The deficit grew by $1.56.

Hmmmmm.............Let's NATIONALIZE those companies by force! Lenin style! We could spent for a WHOLE YEAR (almost) without a care in the world, and another Hawaiian vacation!

Let's party with Bouncey and jay-zee (or whatever their names are).
Republican Sen. Tom Coburn has released a breakdown of how much the federal government forgoes in tax revenue due to various credits and deductions that benefit everything from NASCAR owners to gamblers. It's a fairly comprehensive analysis that should get bipartisan support, but one of the categories that Sen. Coburn targets to raise taxes from may be surprising: "the rich."

Coburn highlights $100 billion in tax revenue that could be raised over the next ten years by ending some of these deductions only on millionaire households. Over the 2006-2009 time period, Coburn notes, millionaires deducted over $20 billion in gambling...