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Subject:  Re: An interesting Fiscal Cliff observation Date:  12/13/2012  12:28 PM
Author:  Hawkwin Number:  411198 of 479751

I don't have any idea how much of Cody Willard's above comment represents hyperbole or exaggeration

Quite a bit, something approach 100%.

Those ‘expenditures’ will cost the U.S. government $628.6 billion over the next five years, according to a 2010 report from the Tax Foundation. With advice from the Urban Institute’s Eric Toder, one of the country’s foremost authorities on corporate tax policy, we assembled the 10 most costly corporate tax loopholes and who benefits from them.


Note, such so-called loopholes include such things as a progressive tax code that taxes the first $50,000 less than the next amounts over that - just like the personal income tax rate. It is people like the author above that benefits the most from such a "loophole"


Largest Tax Deductions, Credits, and Deferrals
for Corporations 2005-2009[38] Total Amount
(Billions of dollars)
Depreciation of equipment in excess of alternative depreciation system 71.