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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Srexley who wrote (358332)	2/12/2003 5:23:12 PM
From: DuckTapeSunroof	Read Replies (3) \| Respond to of 769670

You really don't understand simple math, do you. Re: "accounts for use of loopholes and tax shelters" There ain't many of these left. >>> HaHaHaHa!!!!! >>> Maybe not in your tax bracket! But the use of loopholes and tax avoidance techniques sure show up in the difference between the nominal tax rates... and the real effective tax rates! >>> Tell me... have you ever availed yourself of the oil depletion allowance? Written off a 'business lunch? Utilized one of those oh so courant fancy tax shelters where you take nearly your entire $100 million 'income' in stock options and then sell them to your family trust for a promissory note payable in 15 years? Do you domicile yourself on a nice sunny island so all your earned interest and dividends are tax-free... (or does your corporation hold it's annual meeting there one day a year for the same reason?) Have you transferred all your money-earning 'intellectual property' (patents, copyrights, etc.) to a sheltered location so you can benefit from the money stream tax free? Ever invest in a run-down 'brownfield' industrial property for the property tax abatements? Do you (like Microsoft) pay most of your employee compensation in options (for which you get an immediate tax write-off) instead of salary so it won't have to show up on your book as an equity dilution, and so you have no federal taxes to pay? Does your company compensate you in whole life insurance coverage so as to get around the limits on deductibility for income payments? Do you take the 'solar investment credit'? Ever heard of a 'Rabbi Trust'? >>> They say: only a fool pays more taxes than he is legally required to do... and people don't like being fools. >>> Plus, there are so many friendly Congress people to help out with a 'targeted deduction' for a big contributor. >>> Maybe you need a new accountant :)