Recycling tax breaks

A group of wealthy Americans will use the tax breaks provided them by the federal government to fund campaigns fighting for fair taxation.

The group is part of a campaign called the Responsible Tax Pledge, which is working to create fair tax policies, including cutting tax breaks for the rich, who they say have sufficient means already.

In 2004, people making more than $1 million received a federal tax break averaging more than $123,500, the Tax Policy Center says, while people making less than $50,000 a year received a tax break averaging less than $383.

The center estimates that the combined tax break for people making more than $200,000 last year was $69 billion.

People who took the pledge received an estimated average tax break of $20,000 in 2004, says campaign organizer Responsible Wealth, with several receiving breaks in excess of $100,000.

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