Billionaires Use Tax Loophole To Lower Their Tax Rates To 1 Percent

Billionaires Use Tax Loophole To Lower Their Tax Rates To 1 Percent: pIn 2009, 1,470 households reported income of more than $1 million but paid no federal income tax on it, through their use of various tax loopholes and shelters. Tax rates for millionaires have fallen by 25 percent since the mid-’90s, while one quarter of millionaires currently pay lower tax rates than the average middle-class household. [...]/p