Posted on 03/12/2013 6:04:36 AM PDT by cll
Could big-money billionaire John Paulson be ready to bolt from New York and into a palatial Puerto Rico penthouse in the name of lower taxes?
A Bloomberg News report says the Queens-born hedge fund heavyweight — worth $11.2 billion — has looked at property in the wealthy Condado neighborhood of San Juan.
The $5 million penthouse he reportedly eyed is 8,379 square feet, occupies three floors and includes six underground parking spaces, according to the Trillion Realty Group listing.
~ snip ~
Paulson’s potential move to the commonwealth would save the 57-year-old from paying tax gains on the $9.5 billion he’s invested into his Paulson & Co. hedge funds, Bloomberg News said.
Puerto Ricans don’t pay U.S. taxes on income nor U.S. capital gains taxes. In addition, new Puerto Rican residents can benefit from a series of tax reforms that keep them from paying a 10% capital gains tax to the local tax man — a promotion to lure investment and business to the island.
Ten rich Americans have already made the move, with another 40 families in talks with the government, a Puerto Rican official told Bloomberg News.
(Excerpt) Read more at nydailynews.com ...
My son and I were discussing how people nationwide are literally and physically moving away from the Democrats. Now that the Democrats have impoverished the north with their nonsense, people are moving south. People are moving out of California. People are moving out of the US. You would think the Democrats would catch on..........
They would rather rule in hell!
So whats the deal? He spends more than half his year in Puerto Rico and he gets taxed in Puerto Rico. He will have to visit NYC from time to time to do business so he will get hit with NY State taxes income taxes for each day he is there
Hats off to him, I say. Note however when enough such folks move there, I bet PR will be made a state and the party will be over.
Not until motorists in PR get some drivers training...
Please noooooooo! We are ignorant, rude, uneducated, eat road kill, make you pray, elect people to office like “turtleman”, shoot things to eat, eat lots of fried stuff. Southerners are detrimental to their health. Please stay where you are. You made your bed, don't try to come and crawl in ours!!!
The only people who welcome a Marxist dicatorship like the one Obama’s seeking are the commissars who stand to gain political power over the masses (for commissars, read Democrats, and a handful of Quisling Republicans who mistakenly believe they’ll be allowed to retain power after the revolution).
The masses welcome it all until they find out that all the blessings sent their way by the commissars were only a con calculated to gain acceptance for the revolution.
As soon as the commissars gain power, they shut out everyone else and retreat to their dachas, going out only to attend party meetings and shop at the well-stocked stores reserved for... yes, that’s right... commissars only, comrade.
It’s such an old game, you’d think everyone would know it by now, but, yes, “Those who are ignorant of history are doomed to repeat it.” And Obama and his minions have rightly observed that Americans, by and large, are too busy with their bread and circuses to pay attention to the gradual erosion of constitutional guarantees or the enormous growth of the apparatus of State Security.
Massively ironic that, in twenty years or so, free Russians and Chinese will be sitting around their well-stocked tables and deploring those poor communist idiots in the United States.
That's the plan. Chase out those that might resist them.
Not that they thought it out very well, but the political plutocracy are the ones that intend to be more equal than others in the inevitable and resulting poverty.
The ones moving didn’t make the “bed” they are trying to keep from getting assaulted in the “bed” if you get what I mean
The ones moving didn’t make the “bed” they are trying to keep from getting assaulted in the “bed” if you get what I mean
You would think that the Billionaires would catch on.
I would not be surprised that this billionaire has supported democrats and voted for the One.
Good for him. He’s probably paid out a lot of taxes in his time to NYS and FedGov. He’s proabably risked a lot in his investments and doesn’t want to see it get pissed away into such important things as: ‘pottery classes in Morocco’, funding obamacare, funding that idiot to fly AF-1 to his 12x/year vacations, etc.
Of course he’s going to find out real soon, why all of the windows in PR have bars over them.
The ones moving didn’t make the “bed” they are trying to keep from getting assaulted in the “bed” if you get what I mean
I understand. But it seems they were OK with their liberal states until they realized liberalism was out to get them. If they confess their liberal ways maybe I could see them moving here. Let’s face it does what I think really matter in the greater scheme of things anyway;-)
There are no federal taxes applied to the island because its not a state.
Its the ultimate tax haven - for those who brush up on their Spanish.
Its not a tax haven if you work there, the state taxes are fairly high.
It appears they don’t tax money you earn outside the territory, though.
Puerto Rican’s are considered Americans with the vote but are not required to pay U.S. taxes. Good deal for them! We should close that loop-hole.
A strong incentive to do video conferencing. Or perhaps the whole industry can move to PR.
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