Jobs v. Loopholes: 7 Tax Loopholes the GOP Loves to Love | ThinkProgress

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Here’s a look at the top seven loopholes and giveaways that Republicans think are more important than protecting our economy, jobs, the middle class, and the most vulnerable among us:

  • Extra tax breaks enjoyed by the wealthiest Americans — $520 BILLION
  • Tax break for companies that ship jobs overseas — $168 BILLION
  • Special tax breaks for the largest oil companies — $25 BILLION
  • The loophole that allow people like Mitt Romney to pay a lower tax rate than middle-class workers — $21 BILLION
  • Tax deductions for vacation homes and yachts — $10 BILLION
  • The corporate jet loophole — $3 BILLION
  • Special write-offs for horse breeders (aka the Bluegrass Boondoggle) — $126 MILLION

BOTTOM LINE: The Republicans are choosing to protect millionaires and special interests like Big Oil and Wall Street instead of funding our military and programs vital for the middle class and the health of our economy.

via Jobs v. Loopholes | ThinkProgress.

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