It's tax time, so you're probably wondering, man, do I really have to give the government so much of my money? If you're rich, the answer is no! Step 1: Be a millionaire. Step 2: Hire a flashy accountant. Step 3: Have them use one of these 11 completely legal ways the wealthy use to avoid paying taxes. One of them, which Bloomberg Businessweek calls "The Friendly Partner," allows for a property to be sold without any capital-gains tax at all.
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5 comments:
Huh, Hmm, I wonder if some of our Congressman contributed to this article. Reminds of the history of the Roman Government. Beat and slash the slaves to work for Rome's riches. Not much different today is it? We work and slave at our jobs and the Government employees ride in thier Chariots around us farmers in the field...
But the rich just can't AFFORD any more taxes....isn't that the argument? Like the slumlord millionaires in Salisbury, their cup runneth over, but to listen to them, they are down to their last 11 million dollars and can't afford to fix those broken windows, air conditioning units, and missing steps. But they WILL evict one of their tenants for rent not paid by the 5th of the month. Prices are doubling and tripling on every consumer good and the middle class is being crushed. We just don't have flashy accountants to hide OUR money and assets and no one listens to OUR complaints about taxes. We just PAY. More and more.
It is wrong of all of us to expect the ultra rich and the patriotic corporations of America to pay taxes when they work so hard to create jobs.
Wait...
Dan...great comment! I know its shocking, but I think we're on the same page here. Those corporaations and ultra rich HAVE created jobs....they are just $5 a day jobs in third world countries. But all the money they save in labor somehow never translates into lower prices in the USA. It DOES translate into "second" homes (and third and fourth ones, too) in Florida and Hawaii, record bonuses, multimillion dollar salaries, stock options worth millions, and a part time labor force in this country with no health benefits or vacation. But, you know, when you are down to your last $3.5 billion, or your last 350 rental units, things can get a little tight....
See, lmclain, miracles can happen. Now if we can just get Israel and Palestine to agree like this...
(Note: To bring things back to the "Dan is a moron" feel, this article, in my reading, is proves why trickle-down economics never worked, and never will.) :)
CEOs and Corporate behemoths care about one thing: profit. It may not be a dirty word, but it has a smelly underbelly at times.
If the government is not going to serve as a watchdog over this, who will? We can debate the limits of government intervention, but not the necessity.
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