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Originally Posted by Boreas
I assume you're talking about your hero's taxes.
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The tax return that showed up magically and anonymously at the NY Times from the 1990's.
Quote:
Originally Posted by Boreas
“I will tell you what’s rigged,” Navarro said. “It’s a rigged system when a billionaire can pay no taxes and get away with it.”
You were saying?
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One of the primary gripes was the taxes were not paid on $30 MM in income because the tax obligation was reduced by legally claiming a tax deduction (capital losses) as a credit against the tax. Well, Johnny, if that's a rigged system, then anyone here who's ever sold stock, or a mutual fund, or a piece of real property for a loss is participating in a "rigged system".
That includes me, since I sold an investment in a mutual fund a few years back, and was able to carry over the capital loss against future tax obligations.