Quote:
Originally Posted by CarlV
I imagine you all heard of this Bloomberg article on the elite who pay no taxes. 
Just reaching the top 1 percent is passe.
The real place to be is a more elite top 0.5 percent the high-earners who pay no taxes.
The club that made more than $200,000 in 2009 and paid absolutely nothing in U.S. income taxes had 20,752 members among the nearly 4 million households with incomes above $200,000 according to an Internal Revenue Service study.
So how do they do it?
In most cases, its a mix of tax breaks that combine to turn high gross incomes into negligible taxable income. That means some charitable contributions, some casualty and theft losses, some foreign tax credits and medical expenses.
http://go.bloomberg.com/political-ec...-pay-no-taxes/
Looks like them Cayman Island banks are pretty popular. 
Carl |
The Caymans would serve well as an RR base for the U.S. Marine Corp