December 19, 2014

'Fiscal Cliff' Deal Delivers $64 Billion in Tax Breaks

The new law includes a package of giveaways that benefit interest groups and businesses. Critics call them earmarks in disguise.
January 10, 2013
Los Angeles Times

Excerpt

"It's important for people to start recognizing tax deductions and tax loopholes are economically equivalent to spending programs," said Josh Gordon, policy director with the Concord Coalition, which advocates for a deficit reduction.

Beneficiaries of the breaks often argue that their companies and industries create jobs, and thus the tax benefits are well spent. However, Gordon notes that there has been no real scrutiny of this latest raft of deductions and credits to determine whether American taxpayers are getting a reasonable bang for their buck.