The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: A credit union for andrew||Date: 12/14/2012 8:29 AM|
|Author: CCinOC||Number: 659997 of 767042|
fleg wrote: On the other hand, it looks like the kind of place Mitt Romney would hide money to avoid paying taxes.
Mitt Romney is my kind of guy: knows how to exploit the U.S. Tax Code to legally pay the least amount of taxes.
Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the Treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.
Judge Learned Hand (1872-1961), Judge, U.S. Court of Appeals
Source: In the case of Gregory v. Helvering 69 F.2d 809, 810 (2d Cir. 1934), aff'd, 293 U.S. 465, 55 S.Ct. 266, 79 L.Ed. 596 (1935)
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|