Michael Hudson Quotes:
Ocupation: Professor
Life: b. 1939
If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then you buy other stocks, you can avoid paying taxes. And if your accountant registers your wealth offshore in a Panamanian fund, like Russian kleptocrats do - and as more and more Americans do - you don't have to pay any tax at all, because it's not American income, it's foreign income in an enclave without an income tax.
source: Source: www.counterpunch.org
topic: Income, Paying Taxes, Heirs, Offshore, Trust Funds
