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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We all know he is not poor.[/quote]

But very few of "us" realize how much the tax code has contributed to his wealth.

I guarantee he paid $0 in taxes in 2009. And much less than 15% in the years prior.

That is what this is ALL about.[/quote]

[b]I still don't know how he could possibly have paid $0 taxes legally, unless he had $0 income that year![/b]?
Even with declaring losses you still have to pay taxes!

However, I think you are right that this is what it is all about.
A very very low tax rate (or nothing if that is possible).[/quote]

His income comes from a financial partnership. Most partnerships suffered devastating losses in 2008. You remember the financial crisis, don't you? In businesses, losses carry forward (and sometimes they carry back). If he had a lot of losses from 2008, they very well might have wiped out any income in 2009 and his tax rate would be zero. This would be a total non-event in the tax world. Businesses don't pay taxes like individuals, and they were never intended to. But politically, the optics would be very, very bad.

I still think he participated in the voluntary disclosure program the IRS had and declared a previously hidden Swiss bank account.[/quote]

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