The Register® — Biting the hand that feeds IT

EMC founder clashes with IRS over 'tax evasion' scheme

Anonymous Coward

Hmmm 

Alert

Is it just me, or does he look like Frank Butcher? No wonder the IRS are interested in him!

Stu Reeves

@A/C Frank Butcher 

That'll confuse dem dare yanks....

Peyton

Who is Frank Butcher? 

Happy

couldn't resist

Anonymous Coward

remember, it's only money 

Coat

And the rich stay richer by NOT PAYING TAXES because of all the loopholes written into the laws JUST FOR THEM by their friends in congress. I'm sure it doesn't hurt that he and his cronies probably ponied up several hundreds of quid for various officeholders and party officials.

Getting my coat. That'll about cover it.

Anonymous Coward

What is the IRS thinking? 

Rich people don't pay tax, that's what poor people are for. He must have pissed off someone with even more cash them him.

Anonymous Coward

EMC Royal Family 

Have you met any of the EMC royal family?

Nice they're not.

Seán

Fair's Fair 

Have you any idea how much gin Pat drinks of a weekend? VAT on the slate as Arthur would say.

Tim

The rich are thoroughly soaked 

Those in the top 1% of income pay 40% of the income tax revenue in the U.S., so I think they are already pretty well fleeced, even though I'm not among them.

kain preacher

its the IRS 

Good luck with that. If Bin laden owed the IRS money , he would of been found with in three days of going into Afghanistan

Henry Wertz

Seriously... 

Seriously, this is just petty. He's worth $1.4 bil, and he's complaining over a $62 million tax? Fuck. And the "my accountants told me it was OK" defense is NOT going to fly. This actually happens fairly often here, accountants will try the craziest shell-games to avoid as many taxes as possible (for their clients); if it works the rich guy gets richer. If not, they're SUPPOSED to suck it up and pay.

@Tim

"Those in the top 1% of income pay 40% of the income tax revenue in the U.S.,"

But I just wikipedia'd it, and the top 1% make 15% of the US income. And, at that, the top 1% starts at about $250,000/year... I'm wondering what the top 0.5% or top 0.1% make? I'm guessing the guys at $250,000 are not quite high enough to get into the serious tax dodges (and pay a lot of that 40%) while those making millions get out at quite a low tax rate.

Mark

re: The rich are thoroughly soaked 

Not if the top1% are earning 60% of the money. Paying 40% of the tax in that case means that the poorest 99% are earning 40% of the money and paying 60% of the tax.

Soaked in gin, more like...

Anonymous Coward

more likely 

Paris Hilton

than not the richest ones also have access to all the best tax dodges and really aren't paying a dime. Just like corporations whinge about their taxes but you don't see them whinging about all the special tax writeoffs they get....where's the fun in that?

Paris, 'cuz even she knows the dodges.