Enemy battle plans revealed! This is left over from yesterday, but it demands to be read: a New York Times piece by David Cay Johnston on how an obscure and complex loophole in insurance law benefits the superrich to the tune of tens of millions of dollars.
Johnston reports that just one person -- Peter Kellogg, a billionaire investor -- avoided paying some $100 million in federal taxes by taking advantage of this loophole.
Talk about moral outrage.
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