This handy table from the Washington Research Group shows just how inefficient the US tax code is.
Tax breaks in fiscal year 2014 for health care benefits ($164.2 billion), mortgage interest ($99.8 billion), and state and local taxes ($54.0 billion) will amount to $318 billion.
And that is a one-year number, keep in mind.
These tax breaks inflate health care costs, nudge investment into housing over other sectors, and enable Big Government on the state level.
They also keep marginal tax rates higher than they would otherwise be.
This where tax reform should begin.
Photo: James Pethokoukis
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