Wealthy Benefit From Current U.S. Tax Code

According to a new report by the Corporation for Enterprise Development and the Annie E. Casey Foundation, "While the overall share of the tax bill for the top 1 percent of earners was 27.7 percent in 2005, their share of total benefits from asset policies that same year was over 45 percent."

The tax code is salted with "tax expenditures" -- programs, many worthy, designed to promote policies from homeownership to education to retirement savings. The net result of these expenditures is that they tend to award those who need the least help.

Click the button below to read about the problems with this approach...