New CBO Study: US to Gift Wealthiest Americans $12 Trillion In Tax Cuts This Decade

A new bombshell report from the Congressional Budget Office shows that the top 10 US tax deductions, credits and exclusions ensure that over $12 trillion in tax revenues will be gifted to multinational corporations over the next decade, with nearly all of the benefits accruing to the wealthiest Americans.

The tax loopholes have been written into the tax code by a bought-and-paid-for Congress that receives its marching orders from the multinational corporations that dominate campaign-finance.