‘Tax the Wealthy’ Socialist Billionaire George Soros Has Dodged Taxes for Years

A total douche and a hypocrite. What a surprise.

From Fox News.

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.

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.

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.

While Soros did not comment on the estimate, Bloomberg reported that Soros deferred his taxes for so many years by reinvesting client fees. While he technically was able to do this for U.S.-based funds, offshore funds were apparently preferred because otherwise clients would face negative tax implications.

Congress closed that loophole in 2008, ordering fund managers to pay up by 2017.

According to Bloomberg, Soros moved assets shortly before the change to Ireland, seen as a possible shelter from the law. But tax attorneys told Bloomberg they don’t know of a way for money managers to avoid the bill in 2017.

Soros is known for using his money to finance some pretty despicable things.

He facilitates various organizations, foundations, and financial sources as tools for an empire designed to mold the world to his own warped vision.  His  accomplishments include trying to silence media opponents, funding ACORN, financing his vision of a post-America New World Order, and spreading his malignant Fabian socialist ideology  throughout economic and political infrastructures.
 He also funded some of the groups behind the violence in the Ferguson riots.
When it comes to protecting his money, he’s just as guilty as any other tax cheat.

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: