I had a guest on my Starlight trip who told me he was a hedge fund dealer - very nice guy
(Ed.- John was clearly surprised)
He told me that his boss bragged about making US$500,000,000 (that's $500 million) a year, and he didn't pay any taxes at all.
My guest asked his boss how he got away with that and he replied:
(A) he had a great tax lawyer
(B) he 'only reported US$10 million a year.
The IRS didn't even know about the other $490 million.
So all these numbers we hear are just bogus. Not only are these Goldman Sachs types hiring good tax lawyers, but most of their earnings is simply off the books.
Would any economy be in trouble if these jerks actually paid their honest share
- and reported their actual incomes?
See you on the water, Ling Yai (Thai for 'Big Monkey') AKA John Caveman Gray
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