mill article of new york times based on the gawker files to be found these
things were being is actually reporting this to their own investors and
internally these of these documents that they have to be honest
so that investors kid who wants to them later if it turns out there dishonest
so-so real look into
what tax shelters are point and that investors they brag about
so that that's why you also know that it's true
and we find out that that may promise penetrating taxes
no that probably know that right
but by the media kills a really interesting
for assault ronnie says there's a quote from him quote
my view is i've paid all the taxes required by law on this and i always
leaders
because listen that begin a sentence
money do you
is that people the taxes required by law
i think all the taxes that is that then you might be able to view was lying
minnesota said that his
he knows it to be a morally it's a hard-line views
to is that i have
paid all the taxes required by law is of course he hasn't right so let me show
you how
they have now this is applies to mit romney and being based on the documents
today
uh... first of all they do tax havens
guess how they were taxed tax havens
uh... blocker corporations
backlog you called it is called a block or corporation for that might be it
pretty good
indication that he's trying to block you from getting their money
it before so hopefully will block corporation is to be actually
and what what about tax
favorite
is to be attacked shield so you don't pay your taxes you know when you don't
pay taxes has fought tax evasion
a new time in leavenworth ok win a rich people and then run they don't pay their
taxes escola tax haven using block worker or braces
equity swaps i'm talking about equity swaps and second how to use that
and that's what i can million it never for
management fees reported as capital gains that those classes sound confusing
so let me explain
equity swaps of course is yet another strategy
to make sure that you don't pay your taxes so in fact as senate committee
reported two thousand eight explain this we put the new york times quoting that
report by the major purpose of such swaps
the senate committee reported in two thousand eight
is that enable non-u_s_ persons
tada
payment of u_s_ taxes
on u_s_ stock unit
the name carpeted stairs to donji
payments
you've got your tax payments
you go to jail
baby with the issue and it's not a with no
are not any taxes they said that when he swung
they are free to go
and that's how we get screwed by the way they don't pay their taxes
we have got to pick up the slack and i'm sure the address on this before as
corporate tax have gone down in the rates for the top right has gone down
as a percentage of taxes paid payroll tax sky-high will present the middle
class
the working guy who who pays it is a huge part of this
percentage of his uh... money
income tax for the middle class pays goes up and looked in the latest plans
whether they want to do your jewelry homework seduction rolled or if they
were your child tax credit was a huge tax increase on the middle class
while they cut taxes on the reg
management fee reporters capital gains
this one could actually be easily in fact of course it gives you a legal
is just about whatever s
purposely so and we don't stories about how the republicans have def one of the
i_r_s_
because they don't look the tax cheats being caught
it
is actually avoiding this airbag a ruling on again but professors in the
country unrelated to this for a look at it
greg post is a tax law professor u_n_c_
was quote about this in two thousand line before you meeting about mit romney
having any these
management denounces
the tax strategy is quote extremely aggressive referred to this specific
a proposal
and subject to a serious challenge by the i_r_s_
what is the strategy so you don't
it's called a management fee when they manage people's money
they get two kinds of difranco one is pay-t_v_ wheatley
uh... you know
annexure million dollars for u we're gonna take ten or fifteen or twenty
percent of that for all the good work that we did
at what you sign up for no problem okay if you think these guys are making a ton
of money and i wanted to keep us on top
now take all that
carried interest in the only people ten percent on that's we nikhil is this
regular account it should be reported as regular income but it's not but they got
a legal loophole for that
at issue should take that away but of course our problems once
they also charge a difference the for managing your money safe under two
percent your money even if we lose money
it's a management fee
it is not investment
is on any of those it's like if you're plumber your dentist your lawyer in
charge a fee
and you pay your taxes on the beard top rack in the thirty five percent
here bitches flat out said
we're going to call it something else
want to call a capital gains
but that's not legal that's why this guy said aesthetic dash aggressive it should
be seriously challenged
because the relying instead jimmy like i guess only for being a host on current
for example
practice well mike tyson said
i what i think that group whatever that bracket is twenty-five thirty
thirty-five percent right
i let me fifteen this is about to call a capital gains
well they do look it is a capital gains it is an investment income in salary
your plastic right it's my view it's capital gains that's exactly a and
here's another law professor victor fleischer at your cicada saying
if child support
baby what looms
the big partners in my opinion
misreported their income
if they reported these can burn sneezes capital gain is sort of ordinary income
it is clear is that but their strategy and make money strategy all along has
been
let's avoid as much taxes weekend let's give aid as much taxes weekend let's
sheet on our taxes as much as we can
and that we get caught later will get back up and sprite
and meanwhile if i get caught tenuously to twenty years later i've collected
interest
you at all that extra income yes that i never pay taxes on and then later what
michael according to what all the rich people do all settled
with the i_r_s_
and it will be billed later now pretty much the lawyers say hello to go to war
against me
accuser has a little time to use for rent and me well i think most list was
of might tax the basic
so if you're
wondering i know the issue media only know you can call it that you get all
the facts miller there's no is a surplus
the sport let alone
entire private equity system in the end
is the whole profit margin is based on aborting taxes
well all i think that merit what he did the sub all stamp which is one of the
best experienced in this regard
you at all up
that meant this professional
tax cheat