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Subject:  How a Powerful Industry Conquered the Tax System Date:  6/13/2021  12:50 AM
Author:  CountNoCount Number:  103159 of 104427

Don't like to pay taxes? Just join this in-group.

There were two weeks left in the Trump administration when the Treasury Department handed down a set of rules governing an obscure corner of the tax code.

Overseen by a senior Treasury official whose previous job involved helping the wealthy avoid taxes, the new regulations represented a major victory for private equity firms. They ensured that executives in the $4.5 trillion industry, whose leaders often measure their yearly pay in eight or nine figures, could avoid paying hundreds of millions in taxes.


But if your income is not in eight or nine figures, don't bother to apply.

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