how do I get into the Romney tax program?

Discussion in 'Economics' started by noob_trad3r, Aug 15, 2012.

  1. Those short term trade taxes are expensive.

    IT is said he has some kind of corporation he gets paid a dividend.

    So can I just create some kind of corporation, buy "Shares" in it and they just pay myself a dividend taxed at 15% from my options/trading money?
  2. Bob111


    sure,if you are billionaire...
  3. I started a corporation back in 1984 and based upon my accountants advice, I paid myself and my wife in dividends. But when I later moved in 1987, I got a new accountant and he told me it was illegal to do that. Well the second guy was a graduate of the Wharton School, so I took his advice and paid myself a salary.

    Good luck.
  4. Found this interesting 4 page article. He definately was the Classic Gordon Gekko.

    ie: borrowing against the company using the Pensions pools of the companies he bought, then using that borrowed money to pay himself a special dividend. Finally liquidation.

    I do remember the 1980s was a period of Mass liquidation of companies.

    The way he did the 401K trick was interesting, as explained.
  5. Thankfully someone competent running for office!