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The 10 Most Corrupt Tax Loopholes

By Chris Parker October 11, 2012

A year ago Citizens for Tax Justice, a Washington, D.C., nonprofit, studied the tax returns of 280 corporations. What it found was a Beltway version of a Mafia... More >>>

6 Images

U.S. Rep. Dave Camp (R-Michigan) has taken huge contributions from the financial sector. What did they get in return? Camp blocked legislation reforming the capital gains tax rates.

Sheryl Crow benefited to the tune of $2 million on a loophole put in place by Tennessee, Kentucky and Texas lawmakers.

Facebook founder Mark Zuckerberg took advantage of a multi-billion dollar tax scam during his company's IPO.

Republican presidential nominee Mitt Romney is the poster child of off-shore tax schemes.

Democratic U.S. Rep. Tim Walz (D-Minnesota) tried to pass legislation preventing the uber-rich from claiming the mortgage deduction on yachts. Dave Camp blocked that effort, too.

Thanks to the luxury sailing industry, taxpayers helped subsidize Microsoft CEO Steve Ballmer's $200 million yacht, Octopus.

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U.S. Rep. Dave Camp (R-Michigan) has taken huge contributions from the financial sector. What did they get in return? Camp blocked legislation reforming the capital gains tax rates.

Michael Jolley/Creative Commons

U.S. Rep. Dave Camp (R-Michigan) has taken huge contributions from the financial sector. What did they get in return? Camp blocked legislation reforming the capital gains tax rates.

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