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Posted inDemocracy, Raw Deal

Tax gift to the rich

Todd Dagres, a prominent venture capitalist and independent movie producer, earned $3.5 million in 2003, and paid not a cent in federal income tax. The IRS challenged the math, and sent Dagres a bill for $981,980 in back taxes, plus $196,369 in penalties. So Dagres lawyered up. His attorneys waived one lucrative tax break to […]