PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Srexley who wrote (299270)	9/23/2002 2:14:48 PM
From: J_F_Shepard	Read Replies (1) of 769667

"explained clearly what I am doing, and it is not a loophole." A loophole is not illegal; it is a legal gimmick or scheme to allow one to avoid or reduce taxes... You are using a loophole by claiming all of your one man "corporation" profits as salary thereby minimizing corporate taxes (on you) and instead paying them at your lower personal rate. If you had other employees they wouldn't be allowed to do the same, ergo you take advantage of a loophole. The term skimming is a metaphor which you know the meaning of... Is this all a lie?

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