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Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes
“You support President Obama’s proposal to increase taxes on the wealthy?” That was the question put to George Soros on CNN some three years ago. Here was his answer:
“Yes, very much… the super bubble really resulted in creating a great increase in inequality, and now we have the after effect where you have slow growth, but if you could have better distribution of income, then the average American would actually be better off.”
There’s no question that “everyday Americans” (as a reminder, those are the people Hillary Clinton wants to help by running for president… well, those people and perhaps a few foreign governments and any investment bank who is willing to pay her husband six figures for a speech) would be better off if they got a larger piece of the pie, but as we’ve seen over the past several months, that’s not likely to happen as wage growth declines for the 80% of American workers classified by the BLS as “non-supervisory” even as the country’s supervisors see their pay increase, and as Fed policy continues to inflate the assets most likely to be concentrated in the hands of the wealthy. As this sad reality continues to play itself out destroying the American Middle Class in the process, we wondered if Soros was doing his best to ameliorate the situation by redistributing more of his vast wealth to the very same “average Americans” about which he expressed so much concern in 2012. The short answer: no.
Via Bloomberg:
George Soros likes to say the rich should pay more taxes. A substantial part of his wealth, though, comes from delaying them. While building a record as one of the world’s greatest investors, the 84-year-old billionaire used a loophole that allowed him to defer taxes on fees paid by clients and reinvest them in his fund, where they continued to grow tax-free. At the end of 2013, Soros—through Soros Fund Management—had amassed $13.3 billion through the use of deferrals, according to Irish regulatory filings by Soros…
Congress closed the loophole in 2008 and ordered hedge fund managers who used it to pay the accumulated taxes by 2017. A New York-based money manager such as Soros would be subject to a federal rate of 39.6 percent, combined state and city levies totaling 12 percent, and an additional 3.8 percent tax on investment income to pay for Obamacare, according to Andrew Needham, a tax partner at Cravath, Swaine & Moore. Applying those rates to Soros’s deferred income would create a tax bill of $6.7 billion…
When Soros founded his firm, nothing in U.S. law prevented money managers from postponing the acceptance of client fees and letting the money remain in their funds, where it could grow untaxed. But doing so wasn’t really an option for funds based in the U.S., because if managers didn’t take the fees, their clients wouldn’t be able to deduct them from their own taxable income.
Hedge fund managers could circumvent this obstacle by setting up parallel offshore funds for investors who weren’t subject to U.S. taxes and who therefore didn’t care whether their fund manager deferred taxes on the fees. That way, the fees—typically 2 percent of the amount invested and 20 percent of any profits—plus any investment gains, could grow without being taxed until the managers withdrew the money…
A manager with Soros’s track record who started with $12 million from investors, took 20 percent of the profits, and reinvested that money tax-free over 40 years, would end up with $15.9 billion. If that same manager paid federal, state, and local taxes on the fees and related investment gains before reinvesting them, the figure would shrink to $2.4 billion…
Here’s the simple math:
In the end, it would appear that we simply have yet another case of billionaire hypocrisy: "please raise taxes on all the uber-wealthy... except me."
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Oh he uses TurboTax too?
some are more equal than others
Off with his head!!!
Obama about Soros: He could’ve been my son. ;-)
Looney
he's a democrat, so this is not a problem
There's a difference?
Think, he knows he will not have to pay anything in 2017 because the system will be kaput, broke-n!
This bird will be dead, most assuredly.
This shows, by lateral association, the knowledge of an insider.
Or so I think at any rate. It does seem to match a timetable though, given how things are re-gressing, in waves.
+ Martin Armstrong also said hard down in 2017.6347, did he knot?
Yep...
Muse...ic...
https://www.youtube.com/watch?v=KhJjChT1nq4
frankly i wish i were rich enough to have a 7 billion dollar tab going with the irs.
No thanks Frank,
I'll keep my moral compass true and my karma clear.
Soros is of humanity.
As for Soros...let him eat lead.
quid pro quo so forget it. Nothing will happen, he won't pay
what he owes or a penalty.
Soros is a Zionist
Bring back debtor's prisons for those with net worth above $1b
Cut off his head? The lizard will just mutate and grow another
True enough. Until the guillotines come out.
Azzhoe progressive liberal democraps always want everybody else's money to spend but not their own...
Q: How many democraps does it take to change a light bulb?
A: That's not funny and ur a raycist and gimme all ur money cuz i know how to spend it better than you.
The denizens of the crap-story are living proof that this movie is cast with all the wrong characters in the lead roles. What a shamble of bullshit.
Here is a partial transcript from an interview done by Steve Kroft for CBS’ 60 Minutes George Soros on December 20, 1998:
KROFT: Went out, in fact, and helped in the confiscation of property from the Jews.
Mr. SOROS: Yes. That’s right. Yes.
KROFT: I mean, that’s–that sounds like an experience that would send lots of people to the psychiatric couch for many, many years. Was it difficult?
Mr. SOROS: Not–not at all. Not at all. Maybe as a child you don’t–you don’t see the connection. But it was–it created no–no problem at all.
KROFT: No feeling of guilt?
Mr. SOROS: No.
First major hallmark of the sociopathic psyche: completely guiltless.
Sociopath who never shook off the Nazi SS training.
seig heil George.... cunt
lmao
Do as I say bitches, not as I do.
signed,
George
<-- connect the dots?
<-- some kind of plague?
or H&R block
Nope, he uses A&L Sharpton for tax advice
Jump!
You fuckers!
hedge fund managers are worse than the plague.
All these fuckers need to be hung. When they say increase taxes on the wealthy they really mean increase taxes on the middle class, leave us elites alone.
Please, can we start with George.
It's a big club (getting smaller) and we ain't in it.
Ooooohhh, Oligarchy! ;)
Dont worry Dr.E - this mofo will meet his Maker.
.
And judging by his appearance, it will be sooner than later.
All these fuckers need to be hung. When they say increase taxes on the wealthy they really mean increase taxes on the middle class, leave us elites alone.
EXACTLY. THIS.
Die you NWO scum, I hope you get cancer today!
Azzhoes never get cancer
Those Pure Evil Criminal Psychopaths get the Cure.
That's not true.
They finished of Teddy Kennedy nicely.
Then there's Arlen Specter.
I'm sure there's others.
Caroline is probably next.
Despite the cluster that obamacare is, Ted Kennedy was trying to stop the U.S. tax code from being intrinsically based on war provisioning. Healthcare (life, liberty, the pursuit of happiness) is a better foundation, even if subject to socialistic tendancies. Arlen "majic bullet" Specter saw this in the senate, and might have had a deathbed confession for his brothers in arms, so maybe they had to show him what was going to happen to his own family members.
Caroline does not deserve it either , but as the ambassador to Japan ...
So are you saying your tax dollars funding Specter's wife in spreading multiculteralism is nothing more than blackmail or threat of death?
"might have had a deathbed confession"?
FFS
That holds as much water as McNamara's DBC.
Disgusting cunt.
don't worry he will get medal and more bonuses for this.
That guy is weird and the older he gets the more teenage transfusions he requires. Somebody do him a favor.
all these guys have armies of Tax Lawyers that keep them from paying taxes....and then they say they want to raise them on others.....If you think you should pay more..just send it in...but these guys love the money...they love the billions they have and they want more....its a status thing to them...
Taxes should be valuntary. For example, if someone thinks climate change is real then they should pay a climate change tax. Go ahead climate changers, put your fucking money where your mouth is.
Impossible for taxes to be voluntary. Taxes are theft no matter how you disguise them, period. The "social contract" and all that crap is for the gullible.
“Everything the State says is a lie, and everything it has it has stolen.”
Friedrich Nietzsche
Taxes are for the Goyim. Yay! Jews win again!
The WASPs want you to write like that.
Fuck off, Jonesy, you ignorant cunt.
So, Soros funds groups that burn/run low income neighborhoods down. He has the money to do this because he does not pay taxes like the impoverished and middle class people do. Then al Sharpton shows up and explains that the reason people are impoverished is racism.
Meanwhile, as we speak, you are paying consumption taxes on everything needed to exist. Food, Shelter, Water, comms, energy. AND the IRS is taking away some little old ladies 2000 sq. ft. house right now.
I think it is time some things and some people get re-arranged.
Obama gave Buffet the WH Medal of stinking honor for Pete's sake of course it's all arranged, like a Bangledesh marraige.
Re-arranged with prejudice
File this under "no shit sherlock"...
all animals are created equal, it's just that some animals are "more equal" than others...
tick tock motherfuckers...
Soros is a fat ugly piece of shit with money. What I wouldn't do to be him!
kidding. I'm kidding.
Who junked me? I'm KIDDING! LOOK AT ME! I'M FUCKING JOKING!
Robot
Who junked me?
I'm getting paid $77 an hour to junk anyone who insults Soros.
Sorry man, I'm just getting paid here. I should feel guilty about that, but I don't.
That's right, it's only business just like confiscating property from Jews apparently.
Burn the dumb green paper. Burn all of it.
It is a pile of smoldering rubble. People are just pretending it has value. Don't forget reality always gets the last laugh. Well reality or me.
HA!
You need the suicide squad Joker with the tats for your avatar. Jared is after all a fight club original.
http://goo.gl/RhGRlH
If you say so Doc.
:)
We all know he is a Nazi so what is there to be surprised about.
they (hedgies) will all get caught with their freakin pants down when the music stops playing soon in the ubber leverage daily risk levitation game. there will be no chairs to sit. there will be an elevator ride down and margin calls aplenty.
that would be a good day. any day now, please.
Golly gee willikers uncle Warren say he wants to pay more taxes too. I could see how 80 year old multi billionaires need a few extra billion laying around though , just in case things get tough. I'm sure they had nothing to do with writing those loopholes into to law.
maybe we the middle class needs to withhold taxes too, so we know how it feels to be rich and privileged.
Is hypocrisy even possible in an individual with no morals?
I think it depends on the observer. A progressive would never see hypocrisy occurring in their life. But everyone else observing that life would see it.
The tip top don't pay income taxes, never have. They set up trusts, funds, charities etc... As usual they always know what is best for others, mainly the serfs!
Soros has not one thing to worry about, the tax man will never come for him.
The good news is the grim reapper will come for him and he can't pay his way out of that fact!
Of course. On the contrary, the 30,000 lend money to governments to finance standing armies and tax farming and make the proles pay them tribute instead.
Soros may or may not die soon. If any of his organs fail, though, you better believe he'll be first in line for a fresh young heart, liver, lung or kidney.Waiting lists for transplants are for proles too.
Drive safely. You don't want to get in an accident and have your viscera torn out of you while you're still very much alive and conscious.
may he live to be 192 (literally)
With extremely loose bowels.
Uncle Warren and George Himmler Soros the former Nazi youth rat fink don't own shit and make about $20,000 a year. Everything from Dilly bars and Davos Vacations are expensed out, I wouldn't be surprised if they are not signed up for EBT and Public Housing Credits. Both probably get an Earned Income Tax Credit.
The time has come to take these cunts down.
Why did the US pay this former Swiss banker $104M?http://www.cnbc.com/id/102631594
So he was the fall guy, and got $104 million for 2.5 years work, and it isn't enough?
yeah go ahead, hate him. kill him, you sheep. never mind the true thief that skims and steals obscene amounts of $ from rich and poor alike.
"never mind the true thief that skims and steals obscene amounts of $ from rich and poor alike."
Who is that?
Rioters?
I think you must mean the government? Unfortunately people like Soros basically own the government, so that's at best a moot point. Or are you telling us "sheep" that Soros is a free marketeer and hates big government? lolz
soros will live forever
the correct expression is 'undead'.
something tells me he moves to switzerland before that tax bill is paid....or Obama just pardons his tax bill
Timmy Geithner was his tax preparer.
BY now I think we can see what the whole "globalization" movement was all about.
It was about enabling and furthering first and foremost, corporate interests, spreading the corporatocracy to tap a global pool of labor to keep costs down, whilst cutting down jobs at home.
Obirdbrain is pissed that some folks do not like his globalization crimes.....
http://www.bloomberg.com/news/articles/2015-04-27/obama-warns-of-anti-gl...
"Obama Warns of Anti-Globalization Sentiment in Both Parties"If obirdbrain is upset about it that means his big government (anti-American) progressive power grab is being opposed.
Globalization is NOT a constitutional conservative effort. Progressive criminals OWN it.
Grimaldus
Fast track equals tyranny, and if there's any doubt left for whom Obama works this should settle it.
Globalization is self-induced communism. Who better to enforce it than a Saul Alinsky community organizer, i.e., a communist, groomed for the U.S. presidency by David Axelrod and Rahm Emanuel and elected by their imported socialist voter mob.
These social manipulators are using the political frames of the Fed, the IMF and World Bank to loot the resources of the world and turn the American republic into a global empire - a one-world socialist state.
That’s what globalization is all about, getting the nations addicted and dependent and then managing them with a whip for the benefit of the looters. They are turning the America republic into their personal global empire.
They use money manipulation and war to cheat countries around the globe out of trillions of dollars and their freedom.
John Perkins writes: “Their tools include fraudulent financial reports, rigged elections, payoffs, extortions, sex, and murder. They play a game as old as Empire but one that has taken on terrifying dimensions during this time of globalization.”
Marine Le Pen of France’s National Front party warns:“Globalization is a barbarity…in the hands of multinational corporations and large international finance,”
“The only man I ever heard about who was a community organizer was a Communist,” says Al Benson Jr.
David Horowitz, a former leftist radical who now runs the website http://www.frontpagemag.com interviewed Stanley Kurtz back in January of 2011 regarding his book. He said:
“And what Stanley has shown is just what I said, that Barack Obama was raised as a leftist and starting right out of college was part of the Marxist Socialist, what I call Neocommunist left.”
And, now, he's president of the United States.
https://revisedhistory.wordpress.com/2015/01/24/community-organizing-and-stealth-socialism/
When it comes to taxes Soros and Buffett are two of the biggest hypocrites out there.
I wonder what he said to Mike Bloomberg to piss him off?
The old windbag is a just a fraud who skipped out on his bill. No wonder he is funding chaos in America.
If he just died I would feel a lot better about the world in general.
When George Soros dies I'm having a party. It's going to be so much fun.
We can dance on his grave! Woohoo! :D
Or shit... Whatever your preference...
Well when the statist moguls run out of money they only have one option : bail ins!
And the only people they can bail in, in an income inequality world going viral, are the Oligarchs now !
Apple and Soros being iconic to that herd of rich, as they were spawned in a world of financial mayhem and labour arb global games. Greed replaced intelligence.
Its just the Math stupid!
And Taxes are like divine rights of nation states, just like the kings of old! Totally arbitrary !
Whats new ?
Ahhh yes, George Soros, SUPER PROGRESSIVE.
You knew there had to be some crime involved, that's what progressives do.
This same progressive arch criminal Soros wants your guns taken away from you so he can steal more of your shit and kill you if you try to resist. It is the big government progressive (murderer) way.
Grimaldus
Just another picture to add to the definition of a "financial sociopath."
Awe com'on, taxes are for little people.
Give him a hood and he looks like the starwars-emperor. Who will be his Vader?
And major sponsor of organizations like the Tax Justice Network, and Richard Murphy's Tax Research UK. And get a load of this. The basic premise of these NGOs is that you are entitled to nothing of your income. The government gets to decide what yours or their "fair share" of YOUR EARNED INCOME is. There was an article on the TJN some months ago arguing exactly that.
Tamiko Bolton loves a shriveled dick and a big Federal Reserve Bank account which Slave taxpayers pay.
i met gorge many years ago at luton hoo estate england.
lovely eyes wide shut rothschild shindig good masonicull times was had by all.
if my memory serves gorge took a fancy to a child from haiti lear jet fresh from the haarp earthquake.
feisty little thing the boy would not stop screaming. after gorge was done i could have sworn that he looked 5 years younger blood besmeared but younger no doubt.
such vampyric fun already.
i asked gorge how it rated and he said nothing compared to the times he had removing gold teeth from hungarian gypsy, in the ww2 typhoid camps.
or when he was allowed to run rampage in the eisenhower rhineland camp collecting gold and trinkets from the million german dead or near dead stood upright in holes in the ground.
gorge said it was an open air swamp with people drowning in earth shit and piss but the gold watches and diamond compensations was worth the talmudick efforts.
rhineland open air field real death camps for the germans
yes sir easy pickins
100% no roofs or walls
https://www.youtube.com/watch?v=hbp61fOVFaE#t=217
Thorazine
i prefer sauerkraut lacto fermented.
thorazine sounds so jewish and sycologicull
already.
is that all you got honey bunny : )
Yes, old Eisenhowitzer. A mediocre military man who got as far as he did because of his jewishness. A war criminal without question. The only holocaust that occurred in Germany is what the zios did to the German people after the war had ended.
Typical piece of shit liberal extremist, do as I say, not as I do hypocrite.
Soros is indeed progressive scum but-------Taxes are theft. Big progressive government is scummy-er.
Grimaldus
That is correct. We are narrowing down the NGO group. Give it time. By the end, Hillary will be a 2.6 billion broke grandmother.
Richest people need to be accountable by people, it's the only way.
We'll use her husband's own death panel to eliminate Hillary Clinton. Image the insurance payout Bill.
Vote Cankles 2016
Fuck that fucker!
Fuck that fucker!
Taxes are for the little people, not our betters. Sorta like Castro and the cuban people.
I rated the article "poor". Avoiding taxes is the right and obligation of every american. Just because Soros is rich does not remove his right to fight tax payment. This sort of allienate the rich journalism detracts from the real issues.
I would agree with you if he was not attempting to take away our freedom and impose his political philosophy of communism on us ... and of course not on himself.
"Only the little people pay taxes".
The Queen of mean!
I should pay more taxes, but i don't. I pay taxes for the same reason everyone else does. The government's chains of taxation are more comfortable than imprisonment.
When Hillary become the Queen Mum ,she will pardon him .............for a small donation
Comment of the day, Says Me. I loved the MUM part, and thanks for my LOL.
Comment of the day, Says Me. I loved the MUM part, and thanks for my LOL.
I still believe that Soros is a fat pig that deserves to be gutted, but I find amusing that government taxes can transform 15.9b into 2.4b...
If they can't get Rev. Al "Satan's Gremlin" Sharpton, I doubt GS should worry.
He doesn't have to pay taxes! He just has to finance freedumb and demokracy in the Ukraine while they rehabilitate Nazi scum and the IRS will look the other way.
The Son-of-A-Bitch Must Pay! With Interest!!!!!!!!!!
Or, let's have a 1st Class trial followed by a 1st Class Public Hangin'
Paying your "fair share" is only for the little unconnected people.
That's how they roll - impose tough legislation (it can be taxes, but just as well environmental, zoning, safety etc) on everybody, while securing a loophole for themselves.
Police and government agencies do the enforcing on their behalf, but on taxpayers dime and the costs fall on their competitors. Than people look around and wonder how can corpses grow and grow, while there is more and more laws against corporations.
I've heard a rumor that the Clintons could be involved in influence peddling.
In other news killerdrone policy is be reviewed due to 2 innocent people being killed. That is to say real people as opposed to the usual monkey people.
He has that in loose change.
"billionaire hypocrisy?
Goes a bit deeper than that.
Liberty is a demand. Tyranny is submission.
With the IRS is run by Zionists Soros can zero his tax liability with a donation to an Israeli or US charity he controls
He is on Lois Lerner's speed dial
This is bullish for hemp rope.
holy cow, he may have to sell some of his ill-gotten gains, on the other hand dumbocrats in government may forgive his transgressions AGAIN.
Nazis always end up with a free pass
Avoiding taxes is the great American game.
Indeed....
The Game is between AVOIDANCE and EVASION.
The Former is PAID, the Latter Jailed.
Our Tax System is Simple:
The More you Know the Less You Pay.
Quite American and Human Nature Manifesting:
Knowledge Taxes Ignorance in Society.......
But Unfortunately for George, he Relied on the "Knowledge" of others, and a Bad Mistake a long Time Ago was allowed to Compound as is the Nature of Strategic Tax Mistakes......
You See, as I've Said:
Size or Power Doesn't Matter.
Why doesn't this old fucking jerk get sick and die already? He's nothing but a hemmorroid on the planets ass! A sleezy scumbag.
Obviously Soros is suffering from the Syndrome=> http://wp.me/p4OZ4v-1CZ