How the Rich Are Getting Richer
quicksprout.com
quicksprout.com
"Some people 'claim' to live in a state with no income tax, but they aren’t really living their [sic]."
"What they’ll do is buy a home in Las Vegas, switch out their driver licenses to a Nevada one and claim that they are living their [sic]."
At first I didn't believe it, but this author actually doesn't know about the word "there".
"So if you bought an apartment complex for 1 million bucks, you can right off $25,641 every year from your taxes."
"Right off"? Really?
This kind of prose typically comes from someone who only hears words spoken and never reads the writing of others. I call it "homonymitis".
The article also misses the basic reason why the rich become richer over time -- compound interest, which disproportionately benefits people who already have money:
Do hedge funds really return 20%? For 10 years?
Most don't, Most measure themselves against an index and then mark their P/L accordingly, ie if your index is the Nasdaq and you return -10% in 2001 then you did really well, you just didn't get a bonus:)
Yes, but they don't really work. The article was written by someone who isn't in a position to know this.
> how difficult is it to start an insurance company?
The real question is how difficult it would be to make that strategy produce any tax benefit. And the answer is "very difficult".