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a gift to loopholes…...

August 9, 2022 - 06:55 -- Admin

Democrats and the Washington press corps spent the last week insisting that the party was about to close a notorious tax loophole that allows many Wall Street billionaires to pay a lower tax rate than most Americans. 

In truth, the proposal would have left most of the loophole open, fulfilling Senate Majority Leader Chuck Schumer’s (D-N.Y.) longstanding pledge to protect the private equity industry that bankrolls his campaigns. Now, the plan is gone.

 

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