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Response to IndyJones (Reply #44)

Tue Aug 7, 2012, 12:25 AM

46. I deduce that "paying no taxes" means his investments were structured so he owed no net U.S. taxes.

There are any number of devices that legally allow investments to be structured so that while there is a large gain in long-term valuations of holdings, profits are deferred. Earnings are reinvested, or rolled back into the venture so there is little or no taxable immediate income to the owner. They also enjoy huge write-offs on things like show horses and real estate deals that appear to lose money, but are assets that really keep value and can be used as collateral for other investments. If the investor is wealthy enough, and has good tax advice, there is no need to realize capital gains (or pay taxes) for many years, while his net wealth continues to grow.

The wealthy really are different from you and I, to paraphrase F. Scott Fitzgerald.

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IndyJones Aug 2012 #44
LineLineReply I deduce that "paying no taxes" means his investments were structured so he owed no net U.S. taxes.
leveymg Aug 2012 #46
IndyJones Aug 2012 #50
emilyg Aug 2012 #52
graegoyle Aug 2012 #57
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