George Soros owes almost $7 billion in taxes

He'll die before he pays that bill.

Guess He thought all of the Billions of Dollars He used to fund Democrats and political advertising for Them would be a write off or forgiven by the DNC while They were in full power. You just can't make this Crap up!

What about the KOCHS DAMMIT!

Height of hypocrisy.
Soros rags on the "evil Koch brothers" for not paying enough in taxes all while he is hiding BILLIONS to get around paying taxes in Ireland.

I'm going to guess he'll claim he was sending the money to Ireland in support of his 130 year old Nanna living in County Wicklow.

Oh wait, he's Greek.

(05-01-2015 09:58 AM)CardFan1 Wrote:  Guess He thought all of the Billions of Dollars He used to fund Democrats and political advertising for Them would be a write off or forgiven by the DNC while They were in full power. You just can't make this Crap up!

The Dems are running the IRS going after mainly enemies so maybe he thought they'd never come after him.

(05-01-2015 10:04 AM)mptnstr@44 Wrote:  Height of hypocrisy.
Soros rags on the "evil Koch brothers" for not paying enough in taxes all while he is hiding BILLIONS to get around paying taxes in Ireland.

I'm going to guess he'll claim he was sending the money to Ireland in support of his 130 year old Nanna living in County Wicklow.

Oh wait, he's Greek.

Got a cite for that?

(05-01-2015 09:41 AM)ECUGrad07 Wrote:  He'll die before he pays that bill.

If we're lucky.

(05-01-2015 12:52 PM)Redwingtom Wrote:  

(05-01-2015 10:04 AM)mptnstr@44 Wrote:  Height of hypocrisy.
Soros rags on the "evil Koch brothers" for not paying enough in taxes all while he is hiding BILLIONS to get around paying taxes in Ireland.

I'm going to guess he'll claim he was sending the money to Ireland in support of his 130 year old Nanna living in County Wicklow.

Oh wait, he's Greek.

Got a cite for that?

http://finance.yahoo.com/news/george-sor...R2dGlkAw--

"George Soros likes to say the rich should pay more taxes."

#doasisaynotasido!

(05-01-2015 02:58 PM)mptnstr@44 Wrote:  

(05-01-2015 12:52 PM)Redwingtom Wrote:  

(05-01-2015 10:04 AM)mptnstr@44 Wrote:  Height of hypocrisy.
Soros rags on the "evil Koch brothers" for not paying enough in taxes all while he is hiding BILLIONS to get around paying taxes in Ireland.

I'm going to guess he'll claim he was sending the money to Ireland in support of his 130 year old Nanna living in County Wicklow.

Oh wait, he's Greek.

Got a cite for that?

http://finance.yahoo.com/news/george-sor...R2dGlkAw--

"George Soros likes to say the rich should pay more taxes."

#doasisaynotasido!

That link doesn't mention him saying a word about the Koch's not paying enough in taxes. What you put in quotes was said by the story author, Miles Weiss.

Thanks for confirming that you just made that up.

Maybe if he's nice, being the philanthropic giants that they are, the Koch brothers can bail his America hating asss out.

Naaaaahhh. Lol.

Also, delayed taxes are just that delayed. They're still due and I have no doubt that he will pay them when they are due.

Any CPA worth a grain of salt who doesn't delay tax liabilities until the latest possible time needs to have their license revoked.

Just because someone wants the rules changed does not mean that they cannot play by the rules until they are changed.

(05-01-2015 03:09 PM)Redwingtom Wrote:  Also, delayed taxes are just that delayed. They're still due and I have no doubt that he will pay them when they are due.

Any CPA worth a grain of salt who doesn't delay tax liabilities until the latest possible time needs to have their license revoked.

Just because someone wants the rules changed does not mean that they cannot play by the rules until they are changed.

So you are saying you are ok with the wealthy to use the loopholes available to them to put off or not pay taxes? How very conservative of you.

The left regularly gets their panties in a wad about the wealthy using loopholes i.e. offshore accounts for something similar.

http://www.dailykos.com/story/2013/04/10...Tax-Havens

http://www.vanityfair.com/news/politics/...e-accounts

The loopholes are there, so I don't bemoan anyone for using them.

The problem is that they are there. Congress needs to change that...and they did on the one that Soros made a lot of his money on.

And you can't just have one guy pay more, it has to be a whole system change. So just demanding that he pay more solves nothing.

And here is all I can find of Soros commenting on this. There may be more, but I didn't see it in a quick search.

And no, he does not mention the Koch's. He does not call rich people evil.

He only says that he supported Obama's proposal a few years back to raise taxes on the wealthy.

Here's the problem. Our statutory rates are highest in the developed world for corporations, and higher than the OECD average top rates for individuals, and we double tax corporate income. If we did not have the loopholes to provide some breaks, the tax cost of doing business here would be prohibitive. The big problem with doing it with high rates and loopholes, besides obvious economic inefficiency, is that it puts government in the business of determining winners and losers. So now it becomes financially advantageous to buy influence in DC, and the politicians and bureaucrats make a good living being bought.

If you eliminate the loopholes without lowering rates, we become totally uncompetitive in world nmarkets, and bye-bye economy.

The obvious solution is to eliminate loopholes AND lower rates to world class levels or below. That's what Bowles-Simpson and Domenici-Rivlin both recommended.

A few things Owl:

-Tax Rates mean squat really. It's the effective rate and the number of profitable corporations that pay nothing.
-Corporations are double taxed? What?
-Most people call loopholes areas of the tax law that were unintended to be there. These are vastly different than legitimate credits that are legislated into law to reduce tax burdens.

(05-01-2015 04:46 PM)Redwingtom Wrote:  A few things Owl:
-Tax Rates mean squat really. It's the effective rate and the number of profitable corporations that pay nothing.
-Corporations are double taxed? What?
-Most people call loopholes areas of the tax law that were unintended to be there. These are vastly different than legitimate credits that are legislated into law to reduce tax burdens.

Tax rates mean quite a lot actuslly. Tax rates (and loopholes) drive the economic and business decisions, effective rates reflect the results of those decisions. If my tax rate is higher than my competitors, then I'm placed at a disadvantage. If I can find a loophole I have to take it to stay in business. If not, then I can't beat them so I have to join them. But of course, in your business you should know that.

As for profitable corporations paying nothing, I hear that all the time about this corporation or that corporation. Funny thing, evey time I hear that I look up the company financials, and guess what, every single toile the company paid lots of taxes. If you know a truly profitable company that paid no taxes, why don't you tell us who it is? But I'll warn you, you name one and I will look it up and report the actual numbers.

Where did I say corporations are doubled taxed? Corporate PROFITS are double taxed to shareholders, which is exactly what I said. And we impose the largest or second largest double tax penalty in the developed world. In your business, you know that too.

But you know all this. Don't go playing dumb on us.

I didn't know Soros was working at MSNBC now.

(05-01-2015 08:16 PM)EagleRockCafe Wrote:  I didn't know Soros was working at MSNBC now.

Rev Al is been acting as the bodyguard for the Baltimore mayor this week. Soros will take Al's time slot.

(05-01-2015 04:46 PM)Redwingtom Wrote:  A few things Owl:

-Tax Rates mean squat really. It's the effective rate and the number of profitable corporations that pay nothing.

They mean everything. They are used in the ROI calculations for capital expenditure requests in order to determine future cash flow. This determines how likely a company is to invest in a certain area. Even if my company paid zero taxes last year, I can not submit a CER with a zero tax rate, because that would cause the the numbers to be completely wrong.

It's laughable that you believe "highly profitable" corporations pay nothing in taxes. Show me a few you think this applies to, and we'll show you your fallacy. (Unless you show us the Clinton foundation, George Soros, and any anchor on MSNBC, in which case you may have a point.)

Also, you lefties need to get off your butt-hurtedness about companies being profitable. There is only one entity that states a company MUST be profitable, and that is the US government, specifically the IRS.

One more point, before you go off and try to put a list together of companies who paid no taxes; submit 3 consecutive years of taxes paid by that company. Dont cherry pick a year here, and a year there. You have to do it correctly. Cherry picking isnt correct.

Quote:-Corporations are double taxed? What?

Start one up, make it profitable, and let's see if you still question that remark.

Quote:-Most people call loopholes areas of the tax law that were unintended to be there. These are vastly different than legitimate credits that are legislated into law to reduce tax burdens.

It's still a loophole. It's an intended one versus an unintended one. The issue with a complex tax laws ( and other laws in general) is that the people writing them are either not experienced enough in the area, or do not spend enough time vetting out their own law to notice the loopholes. Then, you have the intentional loopholes created for cronyism.