May 04, 2015

Taxes are for poor people

Brian LilleyRebel Blogger

I love it when rich folks tell me that we should pay more taxes, or that the wealthy should pay more taxes but then they don't. We've heard for years about Warren Buffett owing $1 billion in back taxes, that didn't stop him from campaigning for higher taxes in 2012 alongside Barack Obama. 

This past weekend Bloomberg has a great story on how George Soros built his fortune using tax loopholes and then moved his money out of the country as that loophole was closed. 

Bloomberg details how Soros was able to defer taxes in such a way that his multi-billion dollar empire would have been worth much less if he paid taxes like everyone else. Then, when he was going to have to do that back in 2008, he bolted with the cash.

From the report:

"A week before the law was signed, Soros incorporated a new company in Ireland. Quantum Endowment transferred the deferred fees along with certain other assets and liabilities to the new company, called Quantum Endowment Ireland. "

Of course Soros is also a supporter of left wing economic policies including higher taxes - as long as he doesn't have to pay them.

It's kinda like unions, they constantly call for higher corporate taxes and claims corporations don't pay their fair share and yet unions collect billions annually tax free. 

Doesn't seem right does it?


Follow The Megaphone on Twitter.

JOIN for more news and commentary you won’t find anywhere else.

You must be logged in to comment. Click here to log in.
commented 2015-05-06 09:04:42 -0400
George Soros is part of the international socialist network – Soros built his empire on capitalism, but socialism prevents competition for Soros. And this is why Soros and Buffet and Gates and all the other capitalists want more socialism. These ass-clowns are untouchable. And it is easier to take $500 from 200M people than it is to take $10M from someone who is uber wealthy.
Don’t listen to what they say, watch what they DO!!!
commented 2015-05-05 11:50:32 -0400
Nazi collaborator! Very evil dude.
commented 2015-05-04 23:50:11 -0400
It’s really interesting if you look at the George Soros, Jim Rogers relationship. They were co-founders of Quantum Fund, Jim Rogers was the one who called the shorting of the British pound, Soros was just the timer. I don’t think they have much to do with each other anymore, but Jim Rogers went to Taiwan, and George Soros headed back to Europe.
commented 2015-05-04 20:41:00 -0400
I wish this demon would do the world a favour and die.