Report: George Soros Paid No Income Tax Three Years In a Row

Go get em IRS. Would love to see the FBI storm his mansion with DHS and ICE.


Well, well well its about time. So why now as Trump has been getting more headlines on a daily basis. I know things about Trump and the backwards trousers but it was too hot to handle so my junk disappeared. All I can say is I hope Soros gets roasted but like the rest its probably legal.

Anyone notice the dikes have broken and all these A grade level holes are going down. Bill Gates, Trump, Fauci, Billionaires, Millionaires, Rudy and even Biden is getting nicked along with AOC.

I am just lovin it. These A grade Narcissist personality types even if found innocent, will go through a mental grinder.

Report: George Soros Paid No Income Tax Three Years In a Row

The left-leaning investigative journalism nonprofit ProPublica just released a report that used 15-years worth of confidential IRS records to calculate the effective tax rate that billionaires pay on their fortunes. Among the billionaires named in the report is George Soros, who they say paid no income tax three years in a row, from 2016-2018.

A spokesperson for Soros said in a statement to ProPublica that “Between 2016 and 2018 George Soros lost money on his investments, therefore he did not owe federal income taxes in those years. Mr. Soros has long supported higher taxes for wealthy Americans.” But the performance of Soros Fund Management, the fund responsible for Soros’ massive wealth, gained 5% in 2016, 8.9% in 2017, and 0.9% in 2018. Where exactly is the loss that they’re speaking of? Back in 2017 Soros transferred $18 billion of his fortune to the Open Society Foundation charity that he controls. That guarantees that those funds will be sheltered from the IRS forever in what one commentator called the “single biggest tax dodge in U.S. history, yet no one on the right or left seems to have raised an eyebrow.” The donation also allows Soros to deduct up to 20% of its market value on his personal taxes ($3.6 billion), which he can carry forward for five years, effectively giving him a double write off. That’s a more likely explanation for the lack of taxes paid, at least in the years 2017 and 2018.

I didn't either, but I was eating things that would make a goat puke and sleeping in caves.

a reply to: Waterglass

But for us peons we can only write off 3k a year...so if you lose 100k on and investment only 3k per year may be written off per year until all 100k is accounted for. This is disgusting...where was the IRS on this? Probably targeting some conservative group or Trump I guess...

a reply to: RickyD

What are you talking about? I write off upwards of 40k or more every year in expenses without even including my amortized assets. Is 3k the max donation to an individual charity?

a reply to: drewlander

Expenses are not the same as losses...

a reply to: RickyD

Ahh yes. This is why I am not a cpa. Still not sure why you are restricted to 3k in losses per year. Cant say i ever had any losses that were that subatantial however Amazon was built on losses. The story hoes they knew they would not make a penny for 20 years. Bezos said anyone could start an online used book store in their garage and become successful right?

A rich dude told me that if you pay taxes at the end of the year to fire the accountant and find a good one. Big corporations always find a loss.

But he is eat sashimi tonight .

a reply to: 38181

Apparently you can write off up to 500k in business losses in a year...3k is for market investment losses. Charity donations can be written off too a well as some expenses for businesses.

a reply to: Waterglass

It all depends on what salary he is paying himself as well. This is how Warren Buffett keeps the gullible fooled on his charade of 'making less than his secretary'.

People forget that you can be up to three things in a corporation; a shareholder, an employee and an executive. All three impact your taxes differently.

a reply to: AugustusMasonicus

Yes you are correct.

Among several large publicly traded companies of 1000+ employees I worked three were involved in defrauding the IRS. I wasn't part of it but the ISO-9001 quality systems I implemented ferreted it out. Then I was out as in fired. You can never see it coming until its too late.

At least I made my coin in real estate so I have not suffered.

Thanks

a reply to: RickyD

Agree, the entire thing is not only rigged but fixed against the small guy by both sides.

a reply to: Waterglass

What does that have to do with what I said?

a reply to: AugustusMasonicus

There are many ways to lower ones taxes. Many are legal like what Soros and Buffet do then there are companies that do it another way.

That's all. But your right I should not have expounded beyond your borders.