Community | February 28, 2011 | 8 comments

Infographic: Tax Breaks vs. Budget Cuts

source: http://www.americanprogress.org/issues/2011/02/tax_breaks_infographic.html

Image
treewolf39
By Donna Cooper | February 22, 2011
House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. This approach is especially shortsighted since the Federal Treasury loses twice as much revenue due to tax breaks than Congress appropriates on all nonsecurity discretionary spending.

The chart below compares the 10 safety-net programs slated for deep cuts with the cost of the tax breaks that should also be considered for reduction or elimination to bring the budget into balance. The column on the left is a list of safety-net programs that have already been targets of the House leadership’s budget ax. The column on the right is the cost to specified tax breaks (see bottom of page for sources)

Check out the link for a better view and more information...... http://www.americanprogress.org/issues/2011/02/tax_breaks_infographic.html
  1. groups:
    Community,   Collective Journalism,   Current Cultural Issues,   Educating America,   2 more
  2. tags:
    Tax Cuts,  balanced budget
  3.     
    |

8 comments // Infographic: Tax Breaks vs. Budget Cuts

  • Tim_Patrick
  • treewolf39
    • 0
      treewolf39  
    • Tim_Patrick:

      Well it has only gotten 30 views. Someone may be able to present this in a better/hyper fashion. I just want to get the information out there. Giving all the rich tax breaks and defunding real programs that people who work at pay taxes from........It is just plain silly. Yesterday someone posted that the failed/failing War on drugs is costing the country 500 billion a year everything affected included. Then there are the ongoing wars. The new state department budget is completely out of hand because they want Blackwater protection.

    • 1 year ago
  • KSirys
  • artemis6
  • ejasun
    • +3
      ejasun  
    • Image

    • Tax Breaks vs. Budget Cuts... maybe we should try both?

      Now you HAVE Found that $100 billion we went looking for ... x2)

      House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. -

      - "This approach" is especially shortsighted since the Federal Treasury loses twice as much revenue due to tax breaks than Congress appropriates on all nonsecurity discretionary spending.

      Most Americans would be surprised to learn that tax breaks are not on the table during any budget negotiations.

      In fact,

      Congress has the Congressional Budget Office prepare an official spending estimate for the cost of all programs or their expansions...

      Why,
      over the last 16 years, the cost to the Treasury of the mortgage interest tax deduction, for example, - doubled from $48 billion in 1995 to nearly $100 billion this year and no one made a peep about getting control of this loss in revenue.

      http://forums.macresource.com/read.php?2,1104640,1105435

    • 1 year ago
  • kennymotown
  • treewolf39
  • kennymotown
more from Community:
from the community

top videos