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rufus dog

(8,419 posts)
4. I think taxes too
Wed Jul 18, 2012, 12:18 PM
Jul 2012

A couple of years ago I read an article on what some of the Hedge fund managers were doing to avoid taxes.

Let's say they made a bit over one million a year, they funneled the money into an annuity and then took out a loan for one million. (The loans were provided to the preferred class) Then they offset the income, one million, versus the loan, one million and only paid the 15% on the income claimed that was greater than the loan amount.

The articles point was not only were they paying little to no taxes, they were also pushing for the end of the Death Tax, which means they could go their entire lives without paying taxes.

Based upon Reid's statement it appears that Romney may be one of those using questionable tactics to avoid taxes.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Which issue is more damaging to Romney: [View all] Proud Liberal Dem Jul 2012 OP
Good question, I think Taxes and I will explain. SoutherDem Jul 2012 #1
Good analysis Proud Liberal Dem Jul 2012 #2
Perhaps Xyzse Jul 2012 #3
I think taxes too rufus dog Jul 2012 #4
The tax returns. Arkana Jul 2012 #5
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