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US cost of Tax breaks $12 Trillion, benefits mostly rich
As the federal government continues to struggle with its deficit, a new study has found that the top ten US tax deductions, credits and exclusions will allow taxpayers to withhold paying the government $12 trillion over the next ten years.
Households in the top 20 percent of US income distribution will receive more than half of the $900 billion in tax break benefits in 2013, while 17 percent of total...