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In just the last few weeks alone, as we prepare our own taxes, we've learned that the Wall Street firms who've agreed to pay $1.5 billion to settle conflict-of-interest charges will actually be able to claim the vast majority of those payments as tax deductions. Think of that: not only do these financial flimflam artists escape criminal indictment, they get a massive write-off to boot! Then there's the astounding story of how Sprint's top two executives paid no taxes on $288 million in stock-option profits thanks to highly imaginative tax shelters dreamed up by the accounting alchemists at Ernst & Young. And you were worried about whether you could deduct that $42 dollar business lunch you had with a friend?
Pigs at the Trough shows how and why such appalling abuses continue to happen - and why Washington continues to turn a blind eye.
Normally, it's satisfying to be right. But in this case, it's just plain nauseating.
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