Tom Carper actually said...

"Option baskets are being misused and abused to dodge taxes and to circumvent leverage limits."

"The IRS should seek to collect taxes owed on billions of dollars in basket option profits unjustifiably claimed as long-term capital gains."

"Treasury, and the IRS should remove impediments to audits of large partnerships, like hedge funds, 99 percent of which today escape IRS audits."

"The structures that we have examined today have real consequences because they offload billions of dollars in taxes."