A senator from Arizona, Jeff Flake, isn’t happy about some of the current loopholes in the tax code, especially those that offer tax credits for selling chicken “litter” to power plants.
[:21] Don’t blame the IRS for tax season, blame Congress.
[:43] Senator Jeff Flake has issued a report called “Tax Rackets” that comes down hard on “outlandish loopholes” in the tax code.
[1:22] Flake is especially hard on a tax incentive for chicken farmers.
[2:15] The power plants that these tax breaks would subsidize aren’t very popular amongst taxpayers, either.
[2:56] The developers of American Dreamland are requesting tax-subsidized municipal bonds to finish a $5 billion mall.
[4:29] Flake says the subsidies he has exposed will cost taxpayers $50 billion over the next decade.
[4:52] Call Financial Gravity when you’re ready to start paying less in taxes.