If corporations shouldered the same ratio of the tax burden relative to individuals that it did throughout the 1950s, they’d have paid an additional $560 billion to Uncle Sam in 2014.
Continue readingBarack Obama’s other billionaire: How George Kaiser turned Oklahoma into his personal tax haven
It's unlikely that President Barack Obama will be naming any tax proposals after George B. Kaiser. An investment by the Tulsa billionaire's family foundation in Solyndra, whose bankruptcy may leave taxpayers on the hook for $535 million in federal loans, has raised speculation that the administration acted in part to aid a financial supporter. But the impact on taxpayers of Kaiser's career goes far beyond the $535 million loss. Kaiser has built his fortune in part through shrewdly playing the Internal Revenue Code. In one six year period, during which he increased his net worth enough to ...
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