Congress is looking into whether or not hedge fund and private equity managers should be paying at a higher rate. This is a technical and political issue.
According to Bloomberg News, the IRS is looking into numerous areas of income tax evasion, including possible failure to file actions. This is potentially a criminal investigation.
Also being looked at is offshoring to evade tax liabilities.
I figured this would happen, because greed devours people and wealth leads people to believe they are above the law.
Time will tell, but this worm could turn in an interesting direction.
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