tax breaks for the wealthy

Attaking Tax Loopholes, Obama Takes Aim at Carried Interest

On Sunday, President Obama went on the offensive against the carried interest tax rate. In a nutshell, this tax break allows super-rich hedge fund managers to sidestep a large portion of their tax bills with Wall Street slight of hand.

Twisted Tax Laws Let Private Schools Rob the Poor to Aid the Rich

In theory, private school scholarship laws in Georgia and several other states let people redirect their tax dollars to help educate poor children. Instead, some private schools are just using the money to discount tuition for their current privileged students.

Senate Republicans Block Tax Cut Extensions

The Senate failed to pass a bill that would have extended tax cuts for all but the richest Americans on Saturday, falling nine votes short of the two-thirds majority needed.

Americans Deeply Divided Over Tax-Cut Extensions

While most people support extending at least some of the George W. Bush-era tax cuts due to expire this year, a new Gallup/USA Today survey finds that Americans are deeply divided on which cuts should continue -- and for how long.