Home » George Soros Owes Billions Through Tax Loophole Closing – Doesn’t Want to Pay
George Soros is a man adamant that the government is the best agent to alleviate the needs of the poor. He believes that the government can discover, evaluate, and relieve want in our country. Because of this strongly held and voiced belief, Soros wants the rich to pay more and more taxes. They have more, so they can best provide for the lifting up of the downtrodden. Soros has frequently come out and said that the rich should carry an increasingly heavier burden and that the government should raise tax money for social programs. It’s funny how those who preach pain, do not usually practice it themselves.
George Soros may soon face a monumental tax bill — of nearly $7 billion — after years of playing hard-to-get with the IRS.
Despite Soros having advocated for higher taxes on the wealthy, the liberal billionaire reportedly has delayed paying his own for years thanks to a loophole in U.S. law.
Now I hate to use the “H” word, especially since it is the left’s favorite word, but if waddles and quacks… The problem here is one that both sides of the political aisle suffers from in America. Both sides want to set down in a moral manner of what others should do, but then do not think that same standard should apply to them. This is what a real hypocrite looks like.
Bloomberg, citing Irish regulatory filings, reported that Soros has made $13.3 billion in this way. Factoring in the various tax rates that would apply, one tax expert estimated this would leave Soros with a roughly $6.7 billion bill.
But there may be something even more insidious in this tax bill. What can you say about a man that continually seeks to get the government in another’s pocket, yet seeks to hide his own pocket? Soros, knowing that the loophole was being closed by Congress, sought to move the money out of their reach.
Fox further reports:
That loophole was closed by Congress in 2008. But before that, Bloomberg reports, Soros used it to defer taxes on client fees. Instead, he reinvested them in his own fund, and they grew tax-free.
This means that while preaching higher taxes for the 1%, he sought to escape that same tax. Why would someone not participate in something they think is good for the country? Why not give what you owe? Especially if you are a true believer in wealth distribution.
Sputnik News adds:
In a 2012 interview with Fareed Zakaria of CNN he was asked whether he supported raising taxes on the very wealthy.
“Yes, I very much do so,” Soros said, “because it’s the big boom, the super-bubble that resulted in a great increase in inequality.”
“Not only do we have the after effect where we have slow growth one way or the other, but if you have better distribution of income, the average American will be better off,” Soros added.
Yeah, he is right. If the government had his 6.7 Billion, they could sink a large portion in the debt they have amassed. Maybe Ol’ George knew what his President was going to do with his money and decided not to hand it over. Or maybe, just maybe, Soros decided that it was his money: Money that he had earned, and for that reason and that reason only, he decide to keep his money. He would be absolutely right to feel that way.
I wish he felt the same about everyone else’s money.
For more on what God’s Law had to say on this subject, pick up my book An Everlasting Covenant.
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