Dec. 9 (Bloomberg Politics) — Tom Coburn has one heck of a stocking stuffer for his Senate colleagues.
The Oklahoma Republican, who is retiring before the next Congress convenes in January, is releasing a 300-plus-page report on the tax code today. "Dr. No," as he's known, has compiled what amounts to a greatest-hits collection of tax breaks he wasn't able to erase from the federal code.
His targets include the rich, the famous and the powerful. Coburn slams tax-free celebrity charities, including the foundations of Lady Gaga and Kanye West, for giving little money to actual charities. Coburn hits a tax deduction that millionaire gamblers can use to write off losses. Big companies don't escape Coburn's eye either. The introduction alone dings Google, Intel, Boeing and Apple for their use of the research tax credit.
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