Monday, April 18, 2011

You have a few more hours to finish your taxes

Posted By on Mon, Apr 18, 2011 at 9:30 AM

In honor of tax day, we'd like to point you in the direction of a recent story about tax myths by former New York Times reporter David Cay Johnson. The article was commissioned by the Association of Alternative Newsweeklies and ran in some publications last week. Whether you're scrambling to file your returns today, or you've already spent your refund, Johnson has some information that may interest you.

A sample:

4: Many of the very richest pay no current income taxes at all.

John Paulson, the most successful hedge fund manager of all, bet against the mortgage market one year and then bet with Glenn Beck in the gold market the next. Paulson made himself $9 billion in fees in just two years. His current tax bill on that $9 billion? Zero...

You can read the whole story here.

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