is due soon, where is he going to get the money?
i think i learned this in level 3!!
http://www.bloomberg.com/news/articles/2015-04-30/george-soros-s-tax-bill
It seems kind of sketchy if Soros deferred or avoided the taxes legally, and now he has to pay them suddenly.
loophole closed
Really rich liberals love to say that rich people should pay more taxes, and then use every barely legal mechanism to avoid taxes themselves. Gotta love the irony and inherent selfishness of human nature.
There’s no point in being the only one in your peer group to pay higher taxes. It’s perfectly non-hypocritical to say “We should all pay more, but I will pay more only if my peers pay more too.”
In the meantime, he uses his Open Society Institute to advance plenty of liberal-oriented causes.
In other words: “Talk is cheap.”
For you it is.
If what you are implying were true, there would be no Open Society Institute, period.
For what you imply about him to be true, taxes would have to go up for everyone in his class and he would then whine about how unjust it all is.
I actually agree with chad on this one. It’s like a black man who says “affirmative action is wrong” but then plays the affirmative action card to the admissions committee. I don’t really blame the man for taking advantage, cuz I’d probably do the same thing, even if I knew the system was messed up.
People do what the system allows. You can have opinions over whether the system is set up correectly while still benefitting. And sometimes exploiting the system can help you highlight how broken it is with your example.
He does not only say that it is wrong. He gives lessons to other people, pretends to be a philantropist while supporting all kind of malicious causes.
So…pretty much exactly like Grampa Warren.
Nothing stopping them from leading by example and taking the standard deduction, or using a cost basis of $0 when filing their returns.
If you really believe taxes should be higher, pay more in taxes. Nothing is stopping you. To say, “well, I’ll happily pay them once everyone else does,” is complete BS. Both WB and GS are doing everything in their power to pay as little to the IRS as possible. Normally that’s something I admire, but these two are just asshats.
To believe taxes should be higher is not the same as in just my taxes should be higher. You want them to not only have opinions, but be tax martyrs!
No, but both guys have specifically said their taxes should be higher. It doesn’t leave a great taste in my mouth when guys like these two say the uber-wealthy should pay more in taxes while still doing everything possible to lower their tax bill.
If Warren came out and said, “you know what? I believe the effective tax rate for (whatever) the top 1% should be 33%. I’m going to instruct my team of accountants to make sure that’s where my rate ends up this year. I’d encourage all other wealthy individuals to lead by example and put your money where your mouth is.”
How many liberals - from Soros to Clooney - would actually lead by example? My guess is approximately zero. Until they’re forced to pay more in taxes, they’ll do what we all do…avoid them to the extent the law allows.
Buffet is not some superhero senior citizen. He talks one game and plays another. He’s done it forever but it seems like it’s only catching up with him recently.
i don’t think it’s bad to be a rational actor. if the system allows you to avoid taxes, then avoid taxes. i don’t mind WB doing it as his money is going or will eventually go to causes much grander than those of the federal or state governments. if he didn’t set it up to give away at least 99% of his wealth at death then i’d call him an asshat, like i do soros. at this point, taxing Warren more just means you’re taking from the very poor to give to the somewhat less poor.
Even if Warren pays more taxes, it’s not going to affect his life utility one bit. He is going to die in probably fewer than 5 years and leave behind billions of dollars. Congratulations, I guess, to him for winning the money contest…