Where's my pitchfork?
story in the New York Times about how the Blackstone group will get richer by getting back more from the IRS than they pay in
, then nothing will. Check this up, largely, to Bush's reduction in the cap gains rate.
That thought seems to be rather incomplete, then nothing will.
Incidentally, I don't think this story is right. They say that Blackstone is paying $553 million in tax, but will have a $751 million deduction. If this truly is a deduction, that doesn't mean they get back $751M- a deduction is not a credit (although possibly the NYT meant to say credit, in which case this is obscene.) To figure out your credit on a deduction, you multiply your deduction by your tax rate (15% in this case), which means they'll get back $113M, meaning they'll still pay $440M.
A 12% tax rate on a $3.7B profit is still ridiculous, but not as obscene as the government paying them to make money.