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1. www.hks.harvard.edu › faculty-research › policyClosing loopholes and raising revenue, new tax reforms will ...

   www.hks.harvard.edu › faculty-research › policy

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   Aug 16, 2022 · A tax expert drills down on the new minimum corporate tax, an injection of funds into the IRS, and the loopholes that stay open. Closing loopholes and raising revenue, new tax reforms will be crucial to the success of the Inflation Reduction Act | Harvard Kennedy School

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3. www.npr.org › 2021/09/17 › 1038180298Trillions Of Dollars Can Be Raised By Closing Tax Loopholes ...

   www.npr.org › 2021/09/17 › 1038180298

   Sep 17, 2021 · House Democrats want to raise taxes on some people and on profitable corporations to pay for President Biden's $3.5 trillion spending plan. Some Democrats think the plan to tax goes too far. Some ...

4. www.npr.org › 2022/08/03 › 1115218183What closing the 'carried interest loophole' means for the ...

   www.npr.org › 2022/08/03 › 1115218183

   Aug 3, 2022 · Politics. A tax loophole made fund managers rich. Closing it may help pay for the climate bill. August 3, 20225:00 AM ET. Becky Sullivan. Enlarge this image. Sen. Joe Manchin, Democrat of...

   • Author: Becky Sullivan

5. People also ask

   What would happen if the tax loophole was closed?

   • Their share of profits would normally be taxed as earned income at 37% but instead is taxed at the much lower 20% capital gains rate (as long as it is held for at least three years). Not only is this blatantly unfair, but closing the loophole would have also generated about $14 billion in tax revenue.

   Closing loopholes and raising revenue, new tax reforms will be crucial

   www.hks.harvard.edu/faculty-research/policy-topics/business-regulation/closing-loopholes-and-raising-revenue-new-tax

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   Should a tax 'loophole' be eliminated?

   • A tax ‘loophole’ for the super-rich leaves tens of billions of potential tax revenue on the table every year. President Biden wants to eliminate it.

   Inside the $40-billion-a-year tax 'loophole' Biden's plan ... - NBC News

   www.nbcnews.com/politics/politics-news/inside-40-billion-year-tax-loophole-biden-s-plan-would-n1267481

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   What is a tax loophole?

   • “Tax expenditures, which are also sometimes labeled loopholes, have become highly concentrated in certain areas, namely, employer-provided health insurance, the state and local tax deduction, the mortgage interest deduction, all of which are sometimes called loopholes but are in fact very serious consequential policy choices.

   Closing tax loopholes: Explainer and reporting resources

   journalistsresource.org/economics/close-tax-breaks-loopholes-deductions-explainer/

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   What is the most egregious tax loophole not closed?

   • The most egregious tax loophole not closed (at the insistence of Senator Kyrsten Sinema in exchange for her vote) is the carried interest tax. This loophole benefits a small number of America’s richest, namely partners in private equity firms and hedge funds, who make their money my managing other people’s money.

   Closing loopholes and raising revenue, new tax reforms will be crucial

   www.hks.harvard.edu/faculty-research/policy-topics/business-regulation/closing-loopholes-and-raising-revenue-new-tax

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6. journalistsresource.org › economics › close-taxClosing tax loopholes: Explainer and reporting resources

   journalistsresource.org › economics › close-tax

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   Oct 30, 2017 · In September, the White House and Republican Congressional leaders issued a joint framework for tax reform that focuses on lowering tax rates, paying for them by “closing special interest tax breaks and loopholes.”. Such “tax expenditures,” as they’re called in government, were worth well over $1.5 trillion in 2016, according to ...

7. www.americanprogress.org › article › fact-sheet-howFact Sheet: How Closing a Tax Loophole That Benefits the Rich ...

   www.americanprogress.org › article › fact-sheet-how

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   Jul 14, 2022 · Close a tax loophole exploited by high-income business owners to avoid paying into Medicare. Raise more than $200 billion in revenue over 10 years.

8. www.vox.com › money › 2024/3/13How billionaires and the ultra-wealthy avoid taxes and fight ...

   www.vox.com › money › 2024/3/13

   Mar 13, 2024 · How much tax a wealthy person owes in a given year is a complex tapestry threaded with exemptions, deductions, credits, and obscure loopholes you’ve never heard of. The ideal is to owe zilch.

9. www.nbcnews.com › politics › politics-newsInside the $40-billion-a-year tax 'loophole' Biden's plan ...

   www.nbcnews.com › politics › politics-news

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   May 15, 2021 · The federal tax code contains a loophole so big that in the time you spend reading this article, it will have saved wealthy families and their heirs an average of about $400,000.