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INSIDE THE STORY: Private Equity’s Senator Gets Big Payout

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The Lever's Inside the Story Series - Inside the Lever With Andrew Perez

The carried interest loophole allows ultra wealthy financial industry executives to pay the lower capital gains rate on giant portions of their income. Former Republican Senator Pat Toomey from Pennsylvania spent years protecting a private equity tax loophole. He was recently given a seat on the board of directors for a giant private equity firm.

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