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I love the private sector but it needs to be regulated. Also, the rich use our roads, police and economic position to make their money. Why shouldn't they have to pay?
This is a stupid thread. Name one nation on earth that doesn't regulate the business environment?
Michael Moore, next questionCan you show me a rich liberal who condemns the free market?
How about... They want to tax YOU, and dodge the taxes themselves.
George Soros reportedly could face up to $7B tax bill, after delaying payment for years
George Soros may soon face a monumental tax bill -- of nearly $7 billion -- after years of playing hard-to-get with the IRS.
Despite Soros having advocated for higher taxes on the wealthy, the liberal billionaire reportedly has delayed paying his own for years thanks to a loophole in U.S. law.
That loophole was closed by Congress in 2008. But before that, Bloomberg reports, Soros used it to defer taxes on client fees. Instead, he reinvested them in his own fund, and they grew tax-free.
Bloomberg, citing Irish regulatory filings, reported that Soros has made $13.3 billion in this way. Factoring in the various tax rates that would apply, one tax expert estimated this would leave Soros with a roughly $6.7 billion bill.
While Soros did not comment on the estimate, Bloomberg reported that Soros deferred his taxes for so many years by reinvesting client fees. While he technically was able to do this for U.S.-based funds, offshore funds were apparently preferred because otherwise clients would face negative tax implications.
Congress closed that loophole in 2008, ordering fund managers to pay up by 2017.
According to Bloomberg, Soros moved assets shortly before the change to Ireland, seen as a possible shelter from the law. But tax attorneys told Bloomberg they don't know of a way for money managers to avoid the bill in 2017.
I love the private sector but it needs to be regulated. Also, the rich use our roads, police and economic position to make their money. Why shouldn't they have to pay?
This is a stupid thread. Name one nation on earth that doesn't regulate the business environment?
The rich pay? You fucking moron. Explain to us how the rich do not pay. Go ahead, explain it to all of us you dumb fucking pawn.
You have anything other than fucking democrat cliches you fucking moron? Oh, and another thing. You think any fucking democrats law maker would ever pass legislation that does not provide their rich donors or themselves loopholes?
Or are you just going to fall for the robin hood fairy tale that the democrats use on the liberal voting base every fucking time? You realize that the democrats that pass legislation ARE RICH, right?
You fucking lefties are fucking morons.
Michael Moore, next questionCan you show me a rich liberal who condemns the free market?
Wealthy filmmaker Michael Moore: 'Capitalism is a crime ...Michael Moore, next questionCan you show me a rich liberal who condemns the free market?
LINK?
How about... They want to tax YOU, and dodge the taxes themselves.
George Soros reportedly could face up to $7B tax bill, after delaying payment for years
George Soros may soon face a monumental tax bill -- of nearly $7 billion -- after years of playing hard-to-get with the IRS.
Despite Soros having advocated for higher taxes on the wealthy, the liberal billionaire reportedly has delayed paying his own for years thanks to a loophole in U.S. law.
That loophole was closed by Congress in 2008. But before that, Bloomberg reports, Soros used it to defer taxes on client fees. Instead, he reinvested them in his own fund, and they grew tax-free.
Bloomberg, citing Irish regulatory filings, reported that Soros has made $13.3 billion in this way. Factoring in the various tax rates that would apply, one tax expert estimated this would leave Soros with a roughly $6.7 billion bill.
While Soros did not comment on the estimate, Bloomberg reported that Soros deferred his taxes for so many years by reinvesting client fees. While he technically was able to do this for U.S.-based funds, offshore funds were apparently preferred because otherwise clients would face negative tax implications.
Congress closed that loophole in 2008, ordering fund managers to pay up by 2017.
According to Bloomberg, Soros moved assets shortly before the change to Ireland, seen as a possible shelter from the law. But tax attorneys told Bloomberg they don't know of a way for money managers to avoid the bill in 2017.
WHAT CONFUSES YOU LOW INFORMED ONE?
"
George Soros reportedly could face up to $7B tax bill, after delaying payment for years
"Bloomberg reported that Soros deferred his taxes for so many years by reinvesting client fees. "
AND? LMAOROG, No critical thinking OR honesty required to be a con!!
I love the private sector but it needs to be regulated. Also, the rich use our roads, police and economic position to make their money. Why shouldn't they have to pay?
This is a stupid thread. Name one nation on earth that doesn't regulate the business environment?
