"Tax Avoidance On the Rise: It's Twice the Amount of Social Security and Medicare"

[applegrove]

Tax Avoidance On the Rise:It's Twice the Amount of Social Security and Medicare

http://www.nationofchange.org/tax-avoidance-rise-it-s-twice-amount-social-security-and-medicare-1357569601

"SNIP............................

Three trillion dollars a year—that's how much the wealthiest Americans avoid through the system of subsidies and schemes and sweet deals that deprive middle-class workers of their earned benefits. That's three times more than the deficit. That's enough for a full-time job for every middle-class household in America. Here are the distressing details:

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 percent 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


..........................SNIP"

[Mnemosyne]

1. Whoa, possibly up to $3,000,000,000,000. That should be criminal. 3T here, 3T there, soon we'll

be talking real money.

Honest to gawd, what selfish monsters.