Right Now

Dec 06 2012

Dr. Coburn Outlines Ten Special-Interest Expenditures Hidden in Tax Code

Spending in the form of tax giveaways drives debt, must be reformed

Some in Washington want to simply raise tax rates without addressing the underlying waste, spending and corporate giveaways embedded in the tax code. While Congress continues to delay real tax reform Dr. Coburn exposes ten expenditures that could be immediately eliminated or reformed to reduce the deficit by more than $130 billion over the next ten years, including tax breaks for millionaires, the NFL, Hollywood, and NASCAR. Masquerading as tax cuts, many of these programs are no different from any other federal program that spends taxpayer money. Cleaning up the code by eliminating the most egregious tax giveaways will not only generate revenue, but also pave the way for reducing tax rates for all Americans and small businesses. Full overview available here.