government's list of "tax expenditures" doesn't include payroll tax cap

[papau]

or indeed any of the ways we tax wages at 100 cents on the dollar, while pretending we are taxing investment/capital gains while allowing most of this income to be hidden from actual tax - the capital gains tax loss reflects only the reported gains and the reduction in tax - and does not include capital gains that exclude taxation because such items are not taxed in the estate tax as you get a new "basis. Like wise hidden investment income and even exposed taxed at less than 100 cents to dollar items like muni bond interest seems to be either missing or with no adjustment for trust and partnership and offshore and IRS Code 482 expense transfer activity.

The yearly list of "tax expenditures" indicates the costs in forgone taxes of different breaks.

In 2004 the list has:

Tax-free employer contributions to pensions and 401(k) plans, $123 billion;

tax-free employer payments for health insurance, $120 billion

the deductibility of interest on home mortgages, $68 billion

charitable deductions, $43 billion

the exclusion of some Social Security benefits from income taxes, $27 billion

preferences for capital gains (mainly profits on stocks) worth in 2004 $82 billion.