Thursday, February 24, 2005

Gimme Shelter

The Government Accountability Office reports that company tax shelters cost Uncle Sam $129 billion. You get to pick up the slack.

The GAO found 207 Fortune 500 companies bought tax shelters from accounting firms or through their auditors. They also found more than 10,000 individuals bought into tax shelters. The GAO probe covered 1998 to 2003. (Bloomberg.com)

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