Thanks to many loopholes in our tax code–the carried interest loophole being the most important–the richest people in American are likely paying a lower tax rate than you are. From Businessweek: For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent [...]
|By: Jon Walker Friday April 15, 2011 2:16 pm|
|By: Jon Walker Wednesday June 9, 2010 10:12 am|
Senate Dems come to the aid of Wall Street millionaires, backing down on a House plan to increase how much of the hedge-funders’ income will be taxed at standard rates, not the more generous capital-gains rate.