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The vast amounts of money involved in tax write-offs give only a hint of the scale of these clandestine operations.
But Johnson thought he'd found a way out--a potential tax loophole that would allow the native corporations to sell their losses to profitable companies seeking tax write-offs.
He has a lot of income, is in the highest tax bracket, and has few tax write-offs.
In fact, the companies that enjoyed the biggest tax write-offs actually performed the worst.