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1 Scott A. Hodge, Putting Corporate Tax Loopholes In Perspective 1 (2010)

handle is hein.taxfoundation/srbiexz0001 and id is 1 raw text is: 6o. 184 T here is a popular misperception that U.S. _L tic util aft Xa tfJkJ avl f Cftki c v corporations pay less in taxes than they should inl the political cross-hairs, receives because of a plethora of tax loopholes in the just $2.8 billion in targeted tax tax code that allow them to minimize their tax burden. President Obama, for example, incentives, less than 3 percent of has been critical of certain tax breaks that, he ncnivs a0fa es0ha t maintains, allow companies to avoid U.S. tax alinetvs dfresthnos and encourage them to ship jobs overseas. smlfler€I rivals in energy productio , Another campaign was launched recently by the renewable energy sector which special interest groups claiming that the tax reevs0 13blin code gives billions in special, unjustifiable tax reivs$ .3blon subsidies to the major oil companies each year. AsU otnth astn ahngotel Putting aside the rhetoric, it is legitimate to ask: ity does not measure up to political rhetoric. kAccording to estimates produced by the tPresident's own Treasury staff, the special tax • ht aetedrnt te t copte txpeeecs- kona tax epni provisions benefiting corporations will cost tures in Washington budgetary jargon teTesr bu 12blini 01 h tcollective value of corporate tax expenditures - a n d h o w m u c h d o t h e y c o s t t h e U .S .i s t e e o e l w r h a t e b u g a y c s t f Treasury? i hreoeloe1 hn h udeay1oto any one o the three largest tax expenditures 0 How do corporate tax expenditures benefiting individuals: the mortgage interest compare to the tax breaks available for deduction, the exclusion for employer-provid individuals? health benefits, and the exclusions for pensio How much do tax expenditures actually and 401 (k) contributions. Indeed, even the ,mte amount of ta Lks benerlting st-C

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