July 7, 2009 01:35 PM | Permalink |
(State-by-State Figures in Appendix)
Itemized deductions provide subsidies for certain activities (like buying a home or giving to charity) through the tax system. But they unfairly subsidize these activities at higher rates for wealthy families than they do for middle-income families. The President’s proposal to reduce this unfairness would only impact 1.3 percent of taxpayers. Almost all of these taxpayers are among the very richest Americans.