3 ms·

Also engaged in one of the most ridiculous tax dodges of all time. Uses a "derivative" with his brokers that allows a bunch of short term trades to be taxed at

• laichzeit0 11y ago
  Are you implying that he shouldn't do this even though it's not breaking any laws?
• vixen99 11y ago
  Nothing ridiculous about any legal interpretation of tax laws that allows one to minimize one's contribution. It's common sense. Even more so given the outrageous way in which government wastes the revenue it gets. "No man in the country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or property as to enable the Inland Revenue to put the largest possible shovel in his stores. The Inland Revenue is not slow, and quite rightly, to take every advantage which is open to it under the Taxing Statutes for the purposes of depleting the taxpayer's pocket. And the taxpayer is in like manner entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Inland Revenue" Lord Clyde gave this famous quote (in taxation circles) in the case of Ayrshire Pullman Motor Services v Inland Revenue [1929] 14 Tax Case 754, at 763,764: