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  •  why they believe in the market (12+ / 0-)

    Who wouldn't want to save a few million in taxes. They been attacking Gore for being rich for years.

    •  That's the kind of thought pattern that (3+ / 0-)
      Recommended by:
      jayden, Timothy J, mikejay611

      gives excuses for the rich excesses.  It's the thinking that actually excuses Romney for offshoring and transferring jobs to China.  I mean, who doesn't want to save on taxes and make more money?

      Gore doesn't need to save a few million in taxes.  Being a 20% owner didn't give him carte blanche to decide when and how the deal would be done, but his cooperating with doing it in a way that will save millions of dollars in taxes doesn't exactly make me admire him.

      However, weren't cap gains left at 15% in the deal?  In which case, there would be no tax consequences one way or the other.

      "If you trust you are not critical; if you are critical you do not trust" by our own Dauphin

      by gustynpip on Thu Jan 03, 2013 at 08:46:21 AM PST

      [ Parent ]

      •  Capital gains went up (6+ / 0-)

        to 20% with an additional surcharge of 3.5% for Obamacare.

        So, concievably, Gore possibly saved as much as 8.5 million in taxes if he had zero basis in his investment.

        As for capital gains, the President gain of 8.5% in rates is no chump change. Still can go up further,but this is a good start.

      •  Capital gains went up to 20%. (5+ / 0-)
      •  Personally, I *don't* blame rich people (0+ / 0-)

        for dodging taxes legally. It just seems silly, like blaming a carnivore for killing. If we don't want rich people hiding money, we should make it illegal, and then we can be all righteous about it (and, better, put people in jail for it). Yes, law enforcement for white-collar crime is lax these days, to put it mildly. But shame means nothing in America (unless it has to do with sex).

        (Of course, my feeling on this is likely influenced by being American. In Britain, it's a matter of major shock and scandal when a celebrity is found in a tax avoidance scheme (as happened to Jimmy Carr). Can you imagine American tabloids giving a shit if, say, Jimmy Kimmel were found to have an account in the Caymans?)

        Code Monkey like freedom / Code Monkey like peace and justice too
        Code Monkey very nerdy man / With big warm fuzzy bleeding heart
        Code Monkey like you!

        Formerly known as Jyrinx.

        by Code Monkey on Thu Jan 03, 2013 at 07:19:55 PM PST

        [ Parent ]

        •  I don't know that I exactly "blame" them, but (1+ / 0-)
          Recommended by:
          Code Monkey

          I surely don't admire them.

          While making things illegal is a good idea, there are drawbacks to that.  First, they will always find some scam to get around the law.  Second, there are many things that simply can't be made illegal - this one for instance that just involves timing.

          Having a strong social stigma attached, where individuals will lose their status if they do it, can do as much or more to prevent many people from doing it.  That's where Britain is ahead of us, it seems.  We readily accept that everyone will be greedy and out for every dollar they can get, regardless of how unpatriotic doing so is, and not blame them for it.  My opinion is that we should be blaming them and shaming them.  

          To me, it's much more shameful that those who can easily afford to fund our government, at least partly because that government enabled them to reach that level of wealth and now provides services to protect that wealth, intentionally avoid paying their fair share of taxes than it is for a woman to get an abortion or a man to be married to another man.  Yet too many of us are ready to excuse the former while watching the latter be judged and ostracized.  There's something deeply screwed up in this country.

          "If you trust you are not critical; if you are critical you do not trust" by our own Dauphin

          by gustynpip on Fri Jan 04, 2013 at 07:06:13 AM PST

          [ Parent ]

    •  Mitt Romney sure would have done the same (0+ / 0-)

      No doubt.

      •  and tried to offshore the deal (0+ / 0-)

        so he didn't have to pay US taxes at all. Or own the stock in his retirement account so all the gain was untaxed or at least tax-deferred forever.

        Gore needs a new accountant.

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