Why I Pay Too Much in Taxes
Alan Horowitz
alanh at infi.net
Sat May 11 10:59:03 PDT 1996
There's no particular need for tax fraud, except by little guys. The big
guys have lots of legal techniques. A prime example was the notorious
$1000->$100,000 cattle futures transaction that Hillary Rodham Clinto
did, just before entering the White House. Clearly, it wasn't an
investment: it was a scheme to let some rich Arkansas guy pay a bribe -
legally. A cooperative broker sets up a "short" position and a "long"
position on a trade - then the positions get assigned, after the market
has made its move, such that the guy "loses" the $100k and Hillary "has
a profit".
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