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The True Costs of Tax Breaks and Social Security

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  • The True Costs of Tax Breaks and Social Security

    The Credit Suisse list of the Top 20 US "tax expenditures" totaled $900 billion for fiscal year 2012. That list includes two items that affect retirement.

    The larger category, which comes in at number two on the Credit Suisse Top 20 list, is a $138 billion subsidy for private pensions. It accounts for 15.3 percent of the Credit Suisse Top 20. Number 13 is Social Security at $26 billion, at 2.9 percent of the Credit Suisse $900 billion.

    Those private retirement subsidies cost over 5 times as much as Social Security payments. So, if cutting costly tax breaks is the goal, then we get far more savings by putting tax subsidies to private pensions on the chopping block. But for some reason, those private tax breaks are getting a pass, while paying Social Security benefits are taking all the heat.

     

    http://www.truth-out.org/news/item/14394-the-true-costs-of-tax-breaks-and-social-security


  • #2

    Govco needs a serious overhaul! Wish I could have run for president, **************** like this would change.

    Comment


    • SHRED
      SHRED commented
      Editing a comment

      moonlightin wrote:

      Govco needs a serious overhaul! Wish I could have run for president, **************** like this would change.


      I'd vote for you.

       

       

      --


  • #3
    Lower taxes is only a problem if the government is spending too much.

    Comment


    • pink freud
      pink freud commented
      Editing a comment

      mauser wrote:
      Lower taxes is only a problem if the government is spending too much.

       

      Your idea of "too much" is anything past the military.


  • #4
    Pink: No, I favor cutting it as well.

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