Ray Kravis was primarily a tax accountant, and he had invented

a very special tax shelter which allowed oil properties to be "packaged" and sold in such a way as to reduce the tax on profits earned from the normal oil property rate of 81 percent to a mere 15 percent. This meant that the national tax base was eroded, and each individual taxpayer bilked, in order to subsidize the formation of immense private fortunes; this will

be found to be a constant theme among George Bush's business associates down to the present day.

...

Such activity imparted the kind of primitive-accumulation mentality that was later seen to animate Ray Kravis's son Henry. During the 1980s, as we will see, Henry Kravis personally generated some $58 billion in debt for the purpose of acquiring 36 companies and assembling the largest corporate

empire, in paper terms, of all time. Henry Kravis would be one of the leaders of the leveraged buyout gang which became a mainstay of the political machine of George Bush....