First of all, Lindsay is full of crap - the dollar amount he cites almost certainly includes home mortgage interest deductions. What else is there to itemize? Medical expenses that exceed 10% of AGI, casualty and theft losses, and state and local taxes (to avoid such income being double- or triple-taxed). If Congress disallowed the deductibility of state and local taxes, working people in high-tax states would be crushed, and those states' economies damaged further.
But more to the point, he refers to : "... $1.2 trillion that's spent every year.” SPENT???? By whom, Lindsay? It's not your money, jackass!!!!!
But more to the point, he refers to : "... $1.2 trillion that's spent every year.” SPENT???? By whom, Lindsay? It's not your money, jackass!!!!! Graham is letting his loyalty show in his choice of language -- Teddy Kennedy used to call "tax expenditures" anything the IRS let you keep. All deductions, exemptions, and credits were "tax expenditures" in Teddy-Lingo.