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Tax Loopholes #42257

ABC Evening News for Wednesday, Mar 17, 1976
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(Studio) Senator Budget Committee releases list of tax loopholes and who benefitted.
REPORTER: Harry Reasoner

(DC) If there were no tax deductions, federal government would get $100 billion more per year Major of tax deductions go to people making more than $15,000 per year Chart shows amount saved by deductions with regard to tax-exempt bonds; charity gifts; medical bills; pension contributions, and home-owner deductions. Carter recently suggested ending home-owner deductions and Jackson attacked suggestion. Senate committee study shows that 3/4 of home-owner deductions go to top 30% of population and those making $50,000 or more benefit the most.
REPORTER: Dan Cordtz

Reporter(s):
Cordtz, Dan;
Reasoner, Harry
Duration:
00:01:50

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