{"id":35779,"date":"2012-11-20T23:04:28","date_gmt":"2012-11-20T23:04:28","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/politico_tax_loopholes_alone_cant_solve_fiscal_cliff\/"},"modified":"2012-11-20T23:04:28","modified_gmt":"2012-11-20T23:04:28","slug":"politico_tax_loopholes_alone_cant_solve_fiscal_cliff","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=35779","title":{"rendered":"(Politico) Tax Loopholes alone can&#39;t solve fiscal cliff"},"content":{"rendered":"<p>&#8230;the biggest loopholes in the U.S. Tax Code \u201d\u201d generally referred to as tax expenditures \u201d\u201d aren\u2019t just the tricks of the trade for millionaires with offshore bank accounts. For the vast majority of Americans, they\u2019re just how things work: You don\u2019t pay taxes on your health insurance or Medicare benefits; you contribute tax-free to your 401(k); and your mortgage interest pushes down your tax bill each year.<\/p>\n<p>And even if you dump the biggest of the set, these tax perks don\u2019t even come close to closing the deficit. At best, the top 10 would pull in an extra $834 billion a year, according to Joint Committee on Taxation figures. Considering the hole lawmakers are trying to fill is several trillion dollars large, it\u2019s clear they wouldn\u2019t even come close.<\/p>\n<p>Here are the 10 biggest tax loopholes \u201d\u201d and the reasons why most of them will survive the fiscal cliff&#8230;.<\/p>\n<p><a href=\"http:\/\/www.politico.com\/news\/stories\/1112\/84065.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230;the biggest loopholes in the U.S. Tax Code \u201d\u201d generally referred to as tax expenditures \u201d\u201d aren\u2019t just the tricks of the trade for millionaires with offshore bank accounts. For the vast majority of Americans, they\u2019re just how things work:<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=35779\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,670,582,589,149,104,617,616,593,151,667,618,587,669,584,145],"tags":[],"class_list":["post-35779","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-budget","category-consumerconsumer-spending","category-corporationscorporate-life","category-economy","category-health-medicine","category-house-of-representatives","category-office-of-the-president","category-personal-finance","category-politics-in-general","category-president-barack-obama","category-senate","category-taxes","category-the-national-deficit","category-the-u-s-government","category-us-presidential-election-2012"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35779"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35779\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}