Protesters gathered in the Minnesota state capitol rotunda in April of 2010. (Fight Back! News/Kim DeFranco)
1. Tax Expenditures: $1.25 trillion
These subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes are estimated to be worth 7.4% of the GDP, or about $1.1 trillion. They largely benefit the richest taxpayers. Business subsidies bring the total to $1.25 trillion.
That alone is almost enough to pay for Social Security ($884 billion) and Medicare ($524 billion).
But there's so much more.
2. Tax Underpayments: $450 billion
According to the IRS, 17 percent of taxes owed were not paid in 2006, leaving an underpayment of $450 billion. The largest share of that came from underreporting of income.
"America, let's rev our engines! In your car and on your ballot, the (D) is for Drive forward, and the (R) is for Reverse. And in this election, we're driving forward, not back. Let's re-elect our great president, Barack Obama!" Jennifer Granholm