Bloomberg’s bottom line: “A small but growing number of wealthy Americans (have) discovered how to bypass rules designed more than a half-century ago to ensure philanthropists stay accountable for the billions of dollars in tax breaks they receive each year.”
Read MorePoliticians from both parties benefit from the abuse of the tax code, but they differ over who’s responsible, claiming that those on the other side are guilty of the greatest abuse. But they agree on one thing: Abuse has skyrocketed since 2010 and the Supreme Court’s controversial Citizens United decision.
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