How do you price the assets? And how much in legal and accounting fees will they have to spend to minimize the tax? And are the houses at market value or assessed value like real estate taxes. And who values the artwork and collectibles? Are securities at market value? Which day? December 31st or the day the tax is due. Itβs a ridiculous unworkable tax. Why bit just add $4:00 tax to each gallon of gas. Oh waitπ«’
@hernandezforny@BillAckman Leave Bill. The people of NYC betrayed you. Teach them and the rest of the blue states a lesson. Otherwise we are all doomed.
The "buy, borrow, die" strategy is less a tax loophole than a leveraged bet. Borrowing against stock isn't free -at recent rates of 6-8%, a few years of interest equals the capital gains tax you were avoiding, and you still owe the principal. If the stock drops, the bank forces a sale at the worst possible moment. The tax is deferred, not eliminated: repaying the loan means selling shares and paying the tax anyway, and the "die" escape hatch just trades a 23.8% capital gains rate for a 40% estate tax above the exemption. Add in that most executives already pay ordinary income tax on salaries and stock compensation, and that boards restrict pledging precisely because of margin-call risk, and the graphic's "tax-free income machine" turns out to be a risky arbitrage that only works when rates are low and the stock only goes up.
@SenWarren Elizabeth, do investigate the $84M Chelsea Clinton got from USAID first, won't you? Oh and the rumor the Clinton Foundation paid for her $10M wedding and Co-op. Thank you for your hard work and contribution to rooting out corruption. You're a regular Nick Shirley.
@joeroganhq Men under 30 have a gambling problem, a porn problem- which is bigger than gambling is in its ramifications- and a drug problem. Weird, I sort of agree with Galloway on an issue- first time ever.
@TonySeruga Well then the media has done their job. Protect the Democrats and their faux credibility as news organizations at any cost. It is frightening especially since one side is so aware of the bias and the other sided is so clueless, so uninformed. It's why TDS exists.
Yeah, no. Vital Farms, the pasture-raised egg brand known for its "Keeping it Bullsh*t-Free" branding, feed their hens' is mostly corn and soybean meal, with paprika and marigold added specifically to darken the yolks. A lab analysis from Michigan State University also found the eggs' linoleic acid levels comparable to a tablespoon of canola oil per two eggs, raising further questions about how "natural" the product really is. So no you can't tell by the color of the yolk.
@MichelleMaxwell F anyone who has TDS. Your guy Obama was the most corrupt president. Add in Russia gate and he should be in prison. Sadly anyone relying on MSM will never know about this.
Why would you do this to your country? In America , in part, it was to populate blue states to increase congressional seats. But why in Spain? What advantage does the controlling party get allowing this to happen? I hope the Spanish people rise up in rebellion. But properly not.
I thought you couldn't claim the fifth you have been pardoned? "The Fifth Amendment privilege against self-incrimination only protects you from testimony that could expose you to criminal liability. Once you've received a full, unconditional pardon for particular conduct, you can no longer be prosecuted for that conduct, so there's no criminal jeopardy left to protect against. Courts have held that a witness in that position can be compelled to testify about the pardoned acts and held in contempt for refusing."
@WallStreetApes Amtrak improved food service in the train years ago: they discontinued it. Maybe they should take that approach with their train service.