I guess the rules apply to everyone else BUT George Soros and Al Sharpton. Nothing is more hypocritical and wrong than a BILLIONAIRE who says he wants the rich to pay more taxes but chooses to skip out on paying his own taxes…What a pompous jerk!
An advantage of being a rich and powerful socialist is that even as you participate in imposing ever higher taxation on everyone else so that the money can be spent shoring up your power, you can avoid paying taxes yourself. Obama associate Al Sharpton is an obvious example. The granddaddy of oligarchical collectivists himself, Jewish Nazi collaborator George Soros is another:
George Soros likes to say the rich should pay more taxes. A substantial part of his wealth, though, comes from delaying them. While building a record as one of the world’s greatest investors, the 84-year-old billionaire used a loophole that allowed him to defer taxes on fees paid by clients and reinvest them in his fund, where they continued to grow tax-free. At the end of 2013, Soros—through Soros Fund Management—had amassed $13.3 billion through the use of deferrals, according to Irish regulatory filings by Soros.
Congress closed the loophole in 2008 and ordered hedge fund managers who used it to pay the accumulated taxes by 2017. A New York-based money manager such as Soros would be subject to a federal rate of 39.6 percent, combined state and city levies totaling 12 percent, and an additional 3.8 percent tax on investment income to pay for Obamacare, according to Andrew Needham, a tax partner at Cravath, Swaine & Moore. Applying those rates to Soros’s deferred income would create a tax bill of $6.7 billion.
However, even as Soros schemed to manipulate our elections so as to put voraciously greedy tax-hikers like Obama in power (by funding outfits like Project Vote, Catalist, the Brennan Center for Justice, the Progressive States Network, the Progressive Change Campaign Committee, etc.),
Trending: FLORIDA: LIVE VIDEO Coverage of HUGE Rally in Support of President Trump at “The Villages”
Just before Congress closed the loophole, Soros transferred assets to Ireland—a country seen by some at the time as a possible refuge from the law. The filings show for the first time the extent to which Soros’s almost $30 billion fortune—he ranks 23rd on the Bloomberg Billionaires Index—came from finding ways to delay taxes and reinvesting the money in his fund.
To quote his fellow Democrat Leona Helmsley (who unlike Soros and Sharpton was not well-connected enough to stay out of prison), “Only the little people pay taxes.” Maybe that’s why we are subjected to so much nauseatingly hypocritical Marxist rhetoric from zillionaires like Shrillary, Elizabeth Warren, et al.