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Tuesday, March 12, 2013

Millionaire tax a scheme to give cover for exodus from America before the collapse?

I saw the headline and thought immediately of ‘Hank’ Paulson, the Goldman guy, that Bush II gave over 700 billion dollars (no strings attached) to save the world from imminent economic collapse.

It’s a different Paulson but I’m wondering if others, that we haven’t been aware of, haven’t fled, or are planning to flee, the coming planned collapse.

If their exiting becomes known they can just say they are moving to a better tax situation to hide the real reason they are getting out of Dodge.

Paulson Said to Explore Puerto Rico as Home With Low Tax

By Katherine Burton, Stephanie Ruhle & Zachary R. Mider - Mar 11, 2013 9:58 AM ET

John Paulson, a lifelong New Yorker, is exploring a move to Puerto Rico, where a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds, according to four people who have spoken to him about a possible relocation.

Ten wealthy Americans have already taken advantage of the year-old Puerto Rican law that lets new residents pay no local or U.S. federal taxes on capital gains, according to Alberto Baco Bague, Secretary of Economic Development and Commerce of Puerto Rico. The marginal tax rate for affluent New Yorkers can exceed 50 percent on ordinary income.

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