Biggest Tax Evaders for 2012

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Biggest Tax Evaders for 2012

Post  Gomezz Adddams on Sun Jan 06, 2013 1:28 pm

Sure it's legal, but these people earn special mention since they have lectured the Nation's taxpayers on paying their fair share. Here's a short but notable listing:

Eric Schmidt - Google's CEO for shifting $10B in Google's profits offshore to a Bermuda shell company via The Netherlands with the use of a "Dutch Sandwich" tax shelter.

Mark Zuckerberg - Facebook CEO/Founder for his creative use of grantor retained annuity trusts to do an end around on estate and gift taxes valued at $200M after he told the Big O he was cool with paying more taxes. A dis-honorable mention goes to Facebook co-founder Eduardo Saverin who renounced his American citizenship in an all too obvious maneuver to avoid $70M in capitals gains on sales of his options from the Facebook IPO.

Warren Buffett - The Washington Post (essentially a Berkshire Hathaway company) gave out $70M in 2013 dividends early in 2012 to avoid new taxes on investment income. The "Scold of Omaha" looks to vacuum up about $17M of that stash.

Jim Sinegal - Uber rich life long Democrat, voracious Obama defender and CEO of Costco borrowed $3.5B to pay a $7@share dividend before 2013's investment tax increases. Way to go Jimbo.

George Lucas - Former owner of Lucas Films and zealous milker of the Star Wars film franchise pulls of a nifty share swap with Disney to evade capital gains taxes on the $4B sale of Lucas Films. This is actually an old Buffett dodge so Lucas loses points for creativity but then considering the last three Star Wars movies it's obvious that that well has been dry for a long time.

Read it all here and try not to cry:
Gomezz Adddams

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