John Paulson, billionaire hedge fund manager, is planing to move to save on taxes

[Svnla]

http://finance.yahoo.com/news/paulson-said-explore-puerto-rico-090000186.html

Ten wealthy Americans have already taken advantage of the year-old Puerto Rican law that lets new residents pay no local or U.S. federal taxes on capital gains, according to Alberto Baco Bague, Secretary of Economic Development and Commerce of Puerto Rico. The marginal tax rate for affluent New Yorkers can exceed 50 percent.

Wealthy individuals in the U.S. and Europe are relocating as governments raise taxes on top earners to shrink budget deficits that have become unsustainable after the 2007-2009 financial crisis. Actor Gerard Depardieu left France last year for Belgium and billionaire Bernard Arnault, who runs LVMH Moet Hennessy Louis Vuitton SA (MC), applied for Belgian nationality, after President Francois Hollande sought to introduce a 75 percent tax on millionaires.

BlueCrest Capital Management Ltd. and Brevan Howard Asset Management LLP opened or expanded offices in Switzerland in the past three years after Britain raised taxes on the wealthy.

Paulson executives, too, have already taken steps that may allow them to pay lower taxes. Last year, they put about $450 million into a new Bermuda reinsurance company that in turn invested all of its assets in Paulson & Co. funds. The structure positions them to defer any taxes on investment income from the funds for years, and to pay only the lower capital gains rate when they do.

Look like the very rich around the world with their army of lawyers/accountants are using new loopholes to avoid new taxes/higher rates. They are not laying down and taking it.

 

[ivwshane]

If only there was someone in Washington that would be willing to close such loopholes...

 

[PokerGuy]

Well duh indeed. Only the terminally stupid think those with the money are just going to do nothing when you jack up the rates. They're going to find the best way around it, and they can hire the best people to find the ways around it. Serves the idiot socialists in France right to have a bunch of wealth leaving the country, leaving their budget in even worse shape.

 

[alzan]

Maybe we and other countries should have a law that someone contemplating a move to a country/territory with low/no taxes has to repatriate their wealth and have it be taxed prior to the move. I think 35% sounds about right.

And they'd probably think twice about moving. You wanna call yourself an US citizen; pay your taxes.

 

[LegendKiller]

Well duh indeed. Only the terminally stupid think those with the money are just going to do nothing when you jack up the rates. They're going to find the best way around it, and they can hire the best people to find the ways around it. Serves the idiot socialists in France right to have a bunch of wealth leaving the country, leaving their budget in even worse shape.

Sorry, but all this proves is that they had it good for a long time and now want to take their toys they legally manipulated laws to steal from the middle class and go "home" to a foreign country which allows them to keep them.

They manipulated a system which fostered and grew their wealth and now they want to flee from the responsibility of the system which gave them what they have.

Let him to go Puerto Rico. Then convince the people to make it a state with high tax rates.

I have no remorse for traitors such as him.

He's just as bad as Gerarrd Depardeau. Fucker took state money to start his movies and then decides to move.

 

[Thump553]

Well duh indeed. Only the terminally stupid think those with the money are just going to do nothing when you jack up the rates. They're going to find the best way around it, and they can hire the best people to find the ways around it. Serves the idiot socialists in France right to have a bunch of wealth leaving the country, leaving their budget in even worse shape.

Odds are most of this clown's income is taxed as long term capital gains, or a maximum of 17.x%-for that absurdly low rate he gets all the benefits of being a citizen of the USA, including stability of society and protection from foreign powers.

Sorry, I have zilch respect for this guy. Especially compared to the thousands and thousands of people who have (both in the past and currently) given up their youth, suffered injuries or even death serving in the military protecting free riders like this scum.

The fact that a loophole exists doesn't mean that a man of honor would take it.

 

[Phokus]

Well duh indeed. Only the terminally stupid think those with the money are just going to do nothing when you jack up the rates. They're going to find the best way around it, and they can hire the best people to find the ways around it. Serves the idiot socialists in France right to have a bunch of wealth leaving the country, leaving their budget in even worse shape.

Lol, 'jack up rates', you idiot, hedge fund managers pay way less than 'normal rich' and even middle class folks thanks to the capital gains rate and carried interest loophole. His effective tax rate is probably around 16% which is less than what *I* pay (i have an effective tax rate in the low 20%'s).

It's ignorant morons like you who are destroying this country.

You probably thought he was paying 30+%

This is why not only should they jack up rates on the super rich, they should permanently revoke citizenship of those who pull these moves and tax unrealized gains when they transfer their citizenship/wealth.

Edit: and the only reason why the super rich get away with this bullshit is because you conservative morons will do everything in your power to help them get away with it.

 

[dmcowen674]

John Paulson, billionaire hedge fund manager, is planing to move to save on taxes

http://finance.yahoo.com/news/paulson-said-explore-puerto-rico-090000186.html


Look like the very rich around the world with their army of lawyers/accountants are using new loopholes to avoid new taxes/higher rates. They are not laying down and taking it.

Good, hopefully they will all be the fuck out of here very soon.

 

[Lithium381]

then dave, who will obama tax to pay for your beloved welfare programs?

 

[dmcowen674]

then dave, who will obama tax to pay for your beloved welfare programs?

Won't need welfare once you and your ilk leave the Country.

The sooner you and your ilk leave the better.

 

[Incorruptible]

Won't need welfare once you and your ilk leave the Country.

The sooner you and your ilk leave the better.

And what happens when many of the jobs leave

 

[LegendKiller]

And what happens when many of the jobs leave

You still don't get it. Paulson doesn't create jobs. Romney doesn't create jobs. LBOs don't create jobs. They create levered bets that produce nothing but tax benefits to the wealthy and fuck regular investors while the "managers" collect 2/20 which is schemed into carried interest.

The whole fucking thing is a scam.

Why do you think that most companies aren't going out and buying other companies at this point when they have less debt, more cash and better prospects? It's because they can't make acquisitions work pure from a synergies perspective. However, LBOs can work since they were levered to the hilt and provide equity with levered tax advantageous returns.

 

[CycloWizard]

Sorry, but all this proves is that they had it good for a long time and now want to take their toys they legally manipulated laws to steal from the middle class and go "home" to a foreign country which allows them to keep them.

They manipulated a system which fostered and grew their wealth and now they want to flee from the responsibility of the system which gave them what they have.

Let him to go Puerto Rico. Then convince the people to make it a state with high tax rates.

I have no remorse for traitors such as him.

He's just as bad as Gerarrd Depardeau. Fucker took state money to start his movies and then decides to move.

Your statement is simply proof that you want everyone to be beholden to government. How many millions in taxes has he paid? Are we all indentured servants to the state?

 

[cybrsage]

Last I checked, Puerto Rico is part of the US. They guy is not leaving the US. Manufactured liberal outrage noted and scoffed at.

 

[glenn1]

then dave, who will obama tax to pay for your beloved welfare programs?

Won't need welfare once you and your ilk leave the Country.

The sooner you and your ilk leave the better.

Dave, I must give you credit here. At least you're coming at it from the angle of "..and take your filthy money with you!" Whereas all the liberals in this thread aren't concerned about John Paulson the person leaving, only his tax money. To them he's just a patsy and a cash cow; once his wallet walked out they lost interest beyond a final insult or two about lack of "class" or "lost respect." This demonstrates very well their mindset: you're either the needy beneficiary they believe they're helping, or a source of funding for their plans; never an independent being with their own wants, desires, and beliefs about how to improve the world.

 

[cybrsage]

Puerto Ricans are US citizens - they are Americans. The libs here are showing they think Puerto Ricans are not real Americans. Shame on you all.

 

[CPA]

Won't need welfare once you and your ilk leave the Country.

The sooner you and your ilk leave the better.

Wait, wut? how will poor people no longer be poor once the rich leave?

 

[Svnla]

Puerto Ricans are US citizens - they are Americans. The libs here are showing they think Puerto Ricans are not real Americans. Shame on you all.

I found that it is interesting because they can not vote in Presidential election due to the fact that PR is not a state but the people are US citizens.

 

[CycloWizard]

Wait, wut? how will poor people no longer be poor once the rich leave?

The rich only get that way by robbing/repressing the poor, not by conducting large quantities of mutually beneficial financial transactions. Didn't you get that memo?

 

[Yreka]

If only there was someone in Washington that would be willing to close such loopholes...

A+

 

[Incorruptible]

You cant blame these guys when government steals their money. End the income tax and replace it with a Fair Tax or Flat Tax and you wont have this problem

 

[fskimospy]

Well duh indeed. Only the terminally stupid think those with the money are just going to do nothing when you jack up the rates. They're going to find the best way around it, and they can hire the best people to find the ways around it. Serves the idiot socialists in France right to have a bunch of wealth leaving the country, leaving their budget in even worse shape.

Except of course research shows that most people with money do in fact sit there and do nothing when you jack up rates.

 

[Lithium381]

Won't need welfare once you and your ilk leave the Country.

The sooner you and your ilk leave the better.

me and my ilk? i'm in the middle class, aren't you supposed to support me! well, my wife and i have a combined income of 80k. . i suppose we're living large? we're hiding in tax loopholes? lol@dave . . do delusional he doesn't even know who his "enemy" his anymore, hes just lashing out!

 

[Lithium381]

You cant blame these guys when government steals their money. End the income tax and replace it with a Fair Tax or Flat Tax and you wont have this problem

This is the difference in mindsets. Those on the 'right' feel that they earned the money and the government is taking it. Those on the 'left' feel it was the goverments money in the first place and they're letting you KEEP some of it. . .

 

[Incorruptible]

This is the difference in mindsets. Those on the 'right' feel that they earned the money and the government is taking it. Those on the 'left' feel it was the goverments money in the first place and they're letting you KEEP some of it. . .

You are right. When are those idiots going to understand this. The government doesnt own the money and has no right to it. Those idiots really need to get jobs and understand the value of hard earned money