Newest CBO study: Tax Breaks favor the wealthy

But a new study of the top 10 tax expenditures also show why GOP leaders including Mitt Romney, Paul Ryan, and House Ways and Means Committee Chairman Dave Camp refuse to name a single loophole they would close to achieve it. As the new Congressional Budget Office (CBO) analysis shows, half the value of those $900 billion in tax breaks goes to the top quintile of American income earners. Nevertheless, their elimination would devastate lower and middle income households.
The CBO review of the ten largest expenditures in the individual tax system shows the big numbers at stake. As the National Journal explained:

The top 10 most expensive tax expenditures will cost the federal government roughly $900 billion in 2013, according to CBO--and close to $12 trillion over the next several years through 2023. That's about 5.4 percent of the gross domestic product.

http://crooksandliars.com/jon-perr/cbo-study-shows-tax-breaks-favor-rich