Remake: Harold and Kumar go to jail for insider trading - PeachParts Mercedes-Benz Forum

strelnik · #1 03-14-2011, 03:03 PM

http://www.miamiherald.com/2011/03/14/2114492/govt-witness-galleon-founder-paid.html#

Skid Row Joe · #2 03-14-2011, 03:31 PM

The question always comes up as to why people who did not need the money, that have tens of millions of dollars or more already, jeopardize themselves to legal prosecution, by placing themselves at risk for just a few million dollars?

Since they don't need the money - the only viable reason I've been able to congure up that makes sense to me - is that they viewed it as a quick and easy way to make more money to help pay taxes on the tens of millions of dollars they already have.

Yak · #3 03-14-2011, 05:06 PM

Quote:

Originally Posted by Skid Row Joe

The question always comes up as to why people who did not need the money, that have tens of millions of dollars or more already, jeopardize themselves to legal prosecution, by placing themselves at risk for just a few million dollars?

Since they don't need the money - the only viable reason I've been able to congure up that makes sense to me - is that they viewed it as a quick and easy way to make more money to help pay taxes on the tens of millions of dollars they already have.

Umm...the taxes made me do it?

You couldn't congure [sic] up greed? An overinflated sense of entitlement? Playing the game a bit too long and just now getting caught?

"I'm sorry your honor. I committed the crime in order to pay the taxes on my vast wealth."

Skid Row Joe · #4 03-14-2011, 11:18 PM

Yes, taxes. Once you've got more money than you know you will likely spend in your lifetime, your thoughts turn to the tax consequences on that growing fortune. Selfish? Possibly. Greedy? No, not when you don't need the money to live on anymore. Tax consequences can indeed become more of a concern than income to many, as they age.

RadioTek · #5 03-14-2011, 11:37 PM

"Only little people pay taxes." --Leona Helmsley

ah-kay · #6 03-14-2011, 11:52 PM

Quote:

Originally Posted by RadioTek

"Only little people pay taxes." --Leona Helmsley

x2.

Tax consequences, my foot. And try to do something illegal to pay Uncle Sam? Which planet you are living on? This is call GREED. If you HAD read the 'Millionaires Next Door' book, you would know rich people pay very little tax RELATIVE to their net worth. Look at how much tax Bill Gate and Warren Buffet pay each year for tax? I do not have figures but I would expect it to be less than 0.1% of their net worth. Work out how much you pay in taxes relative to your net worth. If a working class do not have any assert then it would be 20%+, the minimum tax rate.

Rich people have an army of accountants to do their taxes, or shall I say, find loopholes NOT to pay taxes.