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Rauner Used Tax Code To Cut Payments By Millions

Bruce Rauner, like many of the eleven-thousand other richest people in the nation, was able to reduce his tax rate for most of the millions he made in recent years to 15-percent.  The "Chicago Tribune" quotes IRS documents in reporting that Rauner took advantage of legal strategies that are only available to the wealthiest people and that have come under scrutiny recently by the IRS.  Those tax rules allowed Rauner to reduce his tax bill by millions by structuring the money he made through his private equity firm as capital gains, which are taxed at 15-percent, less than half the rate paid on regular income. 

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