New from Mercatus Center:
The loopholes known as “tax expenditures” reduce individual and corporate tax obligations by more than $1 trillion each year. But while these tax deductions are hugely popular and fiercely protected, are they really a good deal for most Americans?
A new Mercatus Center study looks at the ten largest tax expenditures for individuals and corporations and weighs the economic impact of each. The study also reviews the intended-vs-actual beneficiaries and outcomes of particular tax expenditures and considers the economic and political implications of eliminating all expenditures in a single swipe.
Publication and summary is at A TRILLION LITTLE SUBSIDIES: The Economic Impact of Tax Expenditures in the Federal Income Tax Code.