In the spring he paid between 70 cents and 80 cents per dollar of face value for a senior tranche of the WaMu Mortgage Pass-Through 2005-AR2, which carries a coupon rate of Libor plus 31 basis points, or 3.52% in September.
The issue is that a great number of small businesses are taxed as pass- through entities, so the rate of the corporate tax would not necessarily apply to those taxed at the individual rate.
The owners of these firms (pass-through entities such as partnerships, S corporations, and limited liability companies) pay tax at the individual rate, not the corporate rate.