Top ten tax breaks, credit and exclusion will remain $ 12 trillion, the federal government coffers over the next decade, few of them are mainly benefiting the wealthiest Americans from the U.S. Congressional Budget Office said that a new study.
The top 20% of income earners will receive more than half of the $ 90 billion in tax cuts from these benefits arising in 2013, the nonpartisan Congressional Budget Office said on Wednesday.
In addition, 17% of the top 1 percent of the total revenue income strata - revenues of approximately $ 450,000 or more families will go. Rate increase in January was hit by the same group.
Preferential tax rate on capital gains and dividends benefits worth $ 16.1 billion U.S. dollars, the rest of this year, almost entirely the rich, of which 68 percent of the top one percent of earners.
House Democrats, asked Congress to study the referee budget that President Obama backed tax reform and deficit reduction approach: increase revenue limit the amount of tax the rich.
"It shows that we can achieve significant deficit reduction limits the highest incomes preferences, said:" In the House of Representatives Budget Committee, Democratic Rep. Chris Van Hollen.
Although the study did not provide an income threshold, the U.S. Census Bureau 2011 data show that extends to the highest family income declined 20% to $ 101,582, a level considered to be middle class, many places in the United States. In the census data in the lowest quintile population exceeded $ 20,262.
Middle-class assistance
But the study also showed that the greatest benefits of tax incentives to exclude employer-paid health benefits, worth $ 3.4 trillion over 10 years, was more evenly distributed, more than half of the benefits go to the middle 60 percent of earners.
The middle 20 percent of earners has also been the biggest benefit is not including social security and railroad retirement benefits, worth 41.4 billion yuan, more than 10 years of cheer part.
The other three big tax cuts, pension contributions and net profit of over 10 years of $ 2 trillion of exclusion, also benefited from the $ 1 trillion of mortgage interest rates and $ 1.1 trillion in state and local taxes as a deduction, net of 20% of the most disproportionate.
, The highest ranking Democrat on the House Ways and Means Committee, the group is trying to promote tax reform, this year on behalf of Zander ? Levin (Sander Levin), says the study shows that the Republicans will have to significantly reduce the benefit of the middle class tax cuts in order to achieve their goals, lower taxes and balanced budgets.
CBO's report highlights the need to go beyond the absence of instructions on how to achieve economic growth and the impact of tax fairness reduced rate of speech, "said Levin."
Republican Ways and Means Committee Chairman Dave Camp, a spokesman could not immediately reach of comments.
Republicans want to reform the tax code, eliminating some relief, credit and exclusion, but they do not want to cut the deficit towards any resulting income transfers. Instead, they want to use the low savings rate, they think it will accelerate economic growth and improve tax administration.
Democrat Van Hollen said he liked the way will be a limit of 2% of income earners, or family income of $ 250,000 or more deductions, while leaving intact much of the top 10 tax breaks, which also includes net income and children's charitable donations tax credit.
The latter two tax breaks, mainly aimed at the working poor, to provide two-thirds of U.S. $ 11.8 billion in 2013, the lowest 40 percent of the working-class interests, CBO said in the study. Over the past 10 years, these two units will cost $ 1.2 trillion.
 
 



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