alot of my customers are those "rich" people you are talking about, up untill recently with all the economic issues, they would brag about how little taxes they were actually paying on huge amounts of income by using all the loopholes available. Now they are having to use the "loophole money" to bail out their bad investments, so they aren't bragging much now. I have been witness to some of the most creative finacial tax bypass to have ever heard about, and its all legal. The other day, they had Chuck Norris on the radio talking about his new book( it sounded interesting), part of his pitch about taxes is the federal tax code is 36,000 pages long. There are all kinds of hidden tricks in there. He said his reseach had shown a large percintage of people making over $250,000( i don't the exact details) that pay no taxes, and even had some that were getting a rebate. Like I stated in the earlier thread about the 150ft mega yacht parked here, there has never been one cent of sales tax, property tax, payrole tax, income tax (its operated as a charter business), on the boat, or the fuel, or the stores on the boat because of its foreign regestry, yet its common knowledge the owner lives intown.
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10-17-2008, 12:32 PM
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