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Billionaires -- from McCombs to Philip Anschutz to Ronald S. Lauder -- who derive the bulk of their wealth from stock appreciation are using strategies that reap hundreds of millions of dollars from those valuable shares in ways the IRS often doesn’t classify as taxable income, securities filings and tax court records show.
“The 800-pound gorilla is unrealized appreciation,” said Edward J. McCaffery, a professor of law, economics and political science at the University of Southern California in Los Angeles.
Billionaires have ways to avoid taxes that us peons on CD have no idea of at all.
Last edited by Versatile; 11-21-2011 at 08:32 AM..
Reason: Link correction
Billionaires -- from McCombs to Philip Anschutz to Ronald S. Lauder -- who derive the bulk of their wealth from stock appreciation are using strategies that reap hundreds of millions of dollars from those valuable shares in ways the IRS often doesn’t classify as taxable income, securities filings and tax court records show.
“The 800-pound gorilla is unrealized appreciation,” said Edward J. McCaffery, a professor of law, economics and political science at the University of Southern California in Los Angeles.
Billionaires have ways to avoid taxes that us peons on CD have no idea of at all.
Unrealized appreciation? How can you go after money that technically doesn't even exist? Especially since it can go up and down any second and does change second to second... and they don't avoid paying taxes considering when it is realized, taxes are paid... period...
Billionaires -- from McCombs to Philip Anschutz to Ronald S. Lauder -- who derive the bulk of their wealth from stock appreciation are using strategies that reap hundreds of millions of dollars from those valuable shares in ways the IRS often doesn’t classify as taxable income, securities filings and tax court records show.
“The 800-pound gorilla is unrealized appreciation,” said Edward J. McCaffery, a professor of law, economics and political science at the University of Southern California in Los Angeles.
Billionaires have ways to avoid taxes that us peons on CD have no idea of at all.
Billionaires WRITE the laws of the United Ststes and the IRS and SEC regulations.
Why would anyone expect they would NOT give themselves easy outs from taxes that we mere mortals are forced to pay.?
I hear ya there. I cant imagine what it would be like to buy vehicles , fuel , insurance , phone , internet , computers with money I paid taxes on . Screeeew that!
“The 800-pound gorilla is unrealized appreciation,” said Edward J. McCaffery, a professor of law, economics and political science at the University of Southern California in Los Angeles.
Actually unrealized apprecaition results in LESS taxes, not more,
Here is an example
You have $100 in stock, and that stock rises to $110 due to appreciation
But the value of currency already rose by 10% over the same period of time, this results in ZERO tax liability. If this "gain" took place over 5 years, and the inflation rate is 3% a year, there was actually a $5 loss, not a gain..
I.e. $100 stock to $110 appreciation
$100 value of currency to $119.40
This means the investors actually LOST $9.40 rather than made $10.00
Quote:
Originally Posted by Versatile
Billionaires have ways to avoid taxes that us peons on CD have no idea of at all.
Yes they do, and I post about them daily and left wingers wont listen about how they REALLY avoid them.
Quote:
Originally Posted by evilnewbie
Unrealized appreciation? How can you go after money that technically doesn't even exist? Especially since it can go up and down any second and does change second to second... and they don't avoid paying taxes considering when it is realized, taxes are paid... period...
Agreed.. How many left wingers would have been screaming because their home values "raised" in the early 2000s because they had no "gains".
Billionaires -- from McCombs to Philip Anschutz to Ronald S. Lauder -- who derive the bulk of their wealth from stock appreciation are using strategies that reap hundreds of millions of dollars from those valuable shares in ways the IRS often doesn’t classify as taxable income, securities filings and tax court records show.
“The 800-pound gorilla is unrealized appreciation,” said Edward J. McCaffery, a professor of law, economics and political science at the University of Southern California in Los Angeles.
Billionaires have ways to avoid taxes that us peons on CD have no idea of at all.
Interesting that you leave out the liberals' favorite billionaire from this rogues gallery--Warren Buffett.
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