GOP Proposes ‘Vanity’ CA Tax Laws for Tycoons

Here’s one that is a top candidate for the Brass Cajones World Class Chutzpah Award:

A Wall Street tycoon accused in the 1980s of cheating thousands of investors out of their savings in one of the biggest financial scandals in history now says the state of California cheated him. So he has launched a campaign to change the state tax code — retroactive to 1992 — in hopes of getting $5 million back.

The “tycoon” is Peter Ackerman who worked for Drexel Burnham Lambert, along with “Junk Bond King” Michael Miliken. As a result of the scandal, Miliken went to jail but Ackerman walked away with a fine and, reportedly, $500 million.

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