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Wyden Wants To Close Wealthy Tax Loophole

WASHINGTON, D.C. -- There's a tax loophole for the extremely wealthy that helps keeps the amount of taxes they owe, low. The wealthiest people in the U-S pay a smaller percentage of tax than the rest of us. Oregon Senator Ron Wyden says that's because of a tax loophole. Wyden says closing that loophole would make 3-point-8 trillion dollars taxable. He's working on a proposal to do that. Wyden says it would mean more money for local communities and could fund social security into the next century.

 

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