So PHK and family are next in the IRS filings leak by ProPoblica, there is a GRAT amount of information that will soon be visible. Excruciating for Knight Privacy Inc.
What will it tell about the over all strategy, 50 Billion by 2020, at all costs.
The stock just climbs higher.
@zsa 100% agree.
Can @OP or someone else please explain what the he-l GRAT is?
You work at his company, well former company. He is a stand up guy and treated us well when I was there. Something no one talks about is there was an article written a year or 2 before he retired (if I remember correctly) where he exercised and sold a LOT of options. In that year, in which he paid taxes, his state tax bill was equivalent to almost 80% of the rest of the state.
I honestly don’t blame the billionaires for taking advantage of the laws as they exist. If I was a billionaire I imagine I’d probably do the exact same thing.
I blame the politicians that WE elect to office. They are the people in a position to do something about it and they choose not to. And we keep re-electing them. Doesn’t that sorta put at least part of the blame on us?
In addition several of these billionaires like Buffet, Gates, and others have freely admitted that “the system” is tilted in their favor and that it’s wrong. But again it is up to elected officials to change that.
As for PHK I don’t think you’re going to get much traction here constantly complaining about his wealth. He was a “normal guy” with ambition and a great idea and he subsequently built one of the world’s most successful companies. He got rich the old-fashioned way and most people - myself included - have no problem with that.
That is a very different situation than, say, a person coming along and making $80,000,000/year as the CEO of a company someone else founded and built. THAT is something worth complaining about.
Start your own super cool shoe company, then use your wealth to employ tens of thousands…oh and open a cancer center, to boot. Then come back and bi--h some more.
The one where we learn for the 1000th time there's a separate system for the wealthy than the rest of us and nothing will happen. I would almost rather not even know.
At any rate, this is income tax they're talking about, not a tax because you're wealthy on paper. Just like Nike can move revenue to tax havens, wealthy people can live lavish lifestyles while only making $1/yr in "income". Nothing to see here.
Who gives a rat's a-s?!