Tax dodging deprives our nation of revenue needed to maintain and modernize the infrastructure and services underpinning a strong economy. An estimated $37-60 billion or more in tax revenue is lost every year to tax havens. Our economic progress is undermined when companies are rewarded for financial manipulation rather than innovation and productive investment. Responsible businesses and banks are hurt when other firms ...more »
The carried interest tax break allows hedge fund managers and similar money managers at privately held partnerships to treat most of their income as capital gains, allowing it to be taxed at 15% and costing the government billions in tax revenue.