Banksters ownership and control of the Corporatist Economy
Globalist 'Free Trade' fraud creates
a wealth disparity that the world has never seen
A Merchant based economy of true competing
Free Enterprise is the alternative
George Soros $6.7 billion tax bill
Hedge Fund schemers are the modern version of robber
barons. At the top of the list of unscrupulous manipulators is the Nazi collaborator, George Soros. With reports like in Forbes that George Soros May Owe Billions In Taxes, an alarm should go off to all investors.
“By the early 2000s, hedge
funds were considered de rigeur for sophisticated investors
willing to take a risk in exchange for potential wealth. As
that potential wealth grew, so did the potential tax bill, and
managers began looking at other options. The solution?
Investing in offshore hedge funds. Hedge fund managers are generally
taxed on income in the country where the fund is located making
relocating to the usual offshore suspects such as the Caymans,
Bermuda and Ireland attractive. Tax was essentially deferred on
fees from these funds until it landed in the hands of those
in the U.S.”
The
2008 financial
meltdown had all the Wall Street elites scrambling to protect
their investment, while avoiding the day of reckoning with the
tax man. One such effort as Forbes cites allowed for another
deferred work around.
The
change was inserted into the Emergency Economic
Stabilization Act of 2008 (Public Law 110-343) – and if that
sounds familiar, you’re not imagining it. That law
was also instrumental in the administration of the Troubled
Assets Relief Program, or TARP. The new law essentially banned
the deferral of fees and compensation by these offshore hedge
funds.
Moving the domicile for the Soros fund to Ireland was an attempt to circumvent the intent of an ill-written
law.
The Street lays out the basis for the enormous tax bill coming due.
“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.”
Now
this background provides the business analysis but far more important
is
the relevance of the political clout that Soros has wheeled for
decades and how that influence will effect if he will actually
pay his tax bill.
Review the long laundry
list of Organizations Funded Directly by George Soros and his Open Society Institute that have received direct funding and assistance from George Soros.
Note
that the deadline for payment is
2017, just after the next election. Image the next puppet
taking office using an executive order to further delay or water
down the actual collection of the Soros tax obligation.
It should be self-evident that the weight of Wall Street influence will be enormous in the 2016 Presidential coronation.
Dismiss the obvious hypocrisy of advocating for higher taxes while avoiding your own tax payment and focus on the actual results.
“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…”
This strategy is not unique but it is symbolic of the way the financial elites
benefit from their extraordinary influence over the biased tax regulations that favors the politically well connected.
The
difficulty for leftist supporters of the Soros
mind numbing collectivist culture is that they are unable to
separate between the rhetoric and the reality of actual actions.
Soros is a pied piper for the naïve and misguided.
All the millions he spends on altering the political landscape have a financial component to protect his own fortune.
Restructuring
tax law and regulations never reforms
the system. This one example, how hedge funds circumvent taxes,
should illustrate that inserting loopholes into statutes is
the function of lobbying and providing campaign contributions.
George Soros has a long record of avoiding paying taxes, while undermining political regimes. But he
is not alone in avoiding taxes. Bankers Anonymous outlines how the game is played.
“If you set up a traditional hedge fund, first things first: you’ll want to charge the traditional “2/20.”Embedded in this short-hand lingo of “2/20” for hedge fund fees are two types of income.
With the two types of income,
you need the two entities to keep the income tracked separately. Entity #1 collects the “2,” which is taxed
like regular business income, and Entity #2 collects the “20,” which collects your totally awesome income at a
lower tax rate.
The
“2” refers to an annual management fee of 2% of assets under management. On a small/medium-sized hedge fund
of, for example, $500 million under management, you will collect $10 million in management fees per year.”
Since
the standard format for a hedge fund treats
fees as different tax rates, the hidden deception is why such
hedge funds go unregulated by the SEC? The sweet heart tax treatment
deal that allows circumvention of normal rates is a profound
offence. Moving the venture offshore just adds to the outrage.
Targeting 2017 for final settle up will be forgotten as the
next deferment exception is adopted.
Unless
people admit the elite as the real power behind the political charade,
there will never be equitable tax accountability. Soros plots
to overthrow governments. Ignoring the tax bill should be a
cake walk. A better solution is to institute serious and
comprehensive oversight over the 2-20 tax dodge and apply the same
rules to the financial privileged that ordinary citizens must
observe. If you agree, keep the pressure on Soros and demand
a long overdue resolution.
James Hall
– May 13, 2015
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