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Breakingviews: Tax-break titans

Tuesday, Feb 26, 2013 - 03:20

Feb 26 - Antony Currie and Breakingviews columnists discuss how MLPs are starting to rival private equity barons at dodging paying their fair share to Uncle Sam.

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Right at the parents of consistently getting attacked for the tax breaks they get a run besides costing Uncle Sam. About one point three billion dollars it. But Chris you've been making this and you figures recently come out that shows that they're not the only ones -- -- -- -- those tax breaks decimal. Well one of the F favorite investments that and Kenya and invested in them off the limited partnerships. A metric tons sounding unsettling is that. A company needs a staff of the pack at -- if I have to -- corporate income tax we say today that the the company itself as the best. Well that if somebody doesn't have an amendment they puff on the retention tax free to view and fastest. -- helps explain why they get about twice the Rattan he had S&P index but my suspicion is not a defense that he brilliant. Is because I got a great tax break. And a there was a reason for this at least that was the argument of this I guess when he is available when. Oil production is declining in the US right in the idea it was to please production limit the effect I think you've written about before as. The broadening these you know as always happens with these that loopholes so both special situations they get rolled it snowed about eight even open fizzled out. On the terror anyway yet. But that being ruled all kinds of other things actually open up listen senator America's the fastest growing well -- house ID -- in the -- -- -- that they really need this tax break. At that if you think they've been paroled into. Home values things like refined. -- delivering excellent delivery truck delivery trucks delivering etc. basically using the structure that was set when he is again to help when Obama was late to get into all kinds of yet another what you do it -- well before that I'm just -- phantom of IPOs that -- full well because -- -- that one -- yields because -- thanks -- -- -- what -- the numbers have come out what that what makes -- essentially -- quadrupled their estimate of the amount -- savings -- he had joint committee of taxation rat them out by politics. Number current. And but -- committee reckons that. And this will now be costing about one point three and it may be up to about one point six million units against rivals that break right. Texas that's a pretty much as having put you have just lost lost is justice is at last the distance that it takes it. You must feel multiple departments get. Yet pretty much and obviously that gets a lot of attention because this V6 traffic I think what value is of these tiny Hamilton ended today today. You know fixing the deficit is going to be about a large number of relatively small amount yeah I think if if people again to pay attention to it. The private equity some -- well. You'll carried interest as an unfair tax break you look at believe those things as well and that would soaking up its units at thirty billion over the next decade which is what is of what with the agreement -- from all of them not sort of agreement from Washington in the points it's in my peaceful is about small. Yet it thinks that it's a relatively significant chunk I think the other thing that it's much easier to pick on a slightly smaller agree. Yes rob and that's something like the charitable tax deduction which -- that -- -- cool -- Well some of the tax breaks against housing which month ruled him. Richard Chris thanks and Chris thanks the finest numbers for us. And we'll be back we will bring you story.

Breakingviews: Tax-break titans

Tuesday, Feb 26, 2013 - 03:20

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