Taxes are the way our government generates income. Although therichest Io/o of the people in our country pay 39% of the taxes andthe bottom 50% combined pay only 2.9% combined, everyone wantsthings from the government. They want roads and bridges and schoolsand an army and welfare and Medicaid and concerts and ]..... Toprovide these things our government has to raise money and cutexpenses. Which of the following laws help raise money? Which helpcut expenses?
1)Deduction for contribution to the church
2) American Opportunity Credit for attending San JacintoCollege
3) Deduction for gift to the American Red Cross
4) Child credit
5) Deduction for mortgage interest
6) Deduction for home equity loan
7) Deduction for savings bond interest used for higher education(2 things)
8) Deduction for health savings account
9) Deduction for student loan interest
10) Adoption credit
11) Earned Income credit
12) IRA deduction
