Posted on 05/14/2004 6:02:16 AM PDT by Redcoat LI
"Only the little people pay taxes" said one of the wealthiest women in America.
As Barbara Bush famously said, I have a word for her and it rhymes with rich.
Pray for W and Our Troops
Pray for W and Our Brave Troops
Some of it is unrealized capital gains (assets went up in value, but she didn't sell them, so no tax is due).The wealthy play by a different set of rules...
So since my Condo has appreciated 300K in 8 years I'm one of those "different set of rules" guys too? I don't think so...
Just because someone owns an asset that increases in value doesn't mean they need to become a class warfare target, even if they are liberal\socialist scum...
Pray for W and Our Brave Troops
"There Is Nothing Wrong With The Way She Invests Her Money,Either Legally Or Morally,..."
Period, end of discussion. If there is nothing wrong with her actions, drop it. Unless you are proposing a different standard for her.
Unless she rents out the manions, cars, clothes, etc. they produce no income.
Lousy investment advice or very good tax advice. No way of knowing without the tax forms.
I didn't bother to go back to the stories, but my recolection is that the $5 million figure described in the "summary" was her adjusted gross, which would be pre-deductions.
But Rush says the rich people are paying most of the taxes!!
"But Rush says the rich people are paying most of the taxes!!"
Look at it this way - the rich and powerful write the tax laws. Who do you think they favor when writing them, themselves or the poor/working class? If you wrote the tax laws - who would you favor - me or you? Face it folks, if you're not wealthy & have power - say hello to the short end of all the sticks.
I agree. If I had the wealth of Teresa, I'd probably invest in a few tax-free bonds myself. Who wants to pay more taxes than are absolutely necessary? (Truth be told, my decidedly middle-class spouse and I have invested in a tax-free bond fund through our stock broker). The point is "what does she do with her money"? If I had her $500-600 million, I'd probably give away at least 99 percent of it immediately, without buying a single Gulfstream or multi-zillion dollar mansion. But that's just me.
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