From: Alan Horowitz <alanh@infi.net>
Date: Sun, 12 May 1996 01:59:03 +0800
To: "E. ALLEN SMITH" <EALLENSMITH@ocelot.Rutgers.EDU>
Subject: Re: Why I Pay Too Much in Taxes
In-Reply-To: <01I4JVOF385S8Y5AN2@mbcl.rutgers.edu>
Message-ID: <Pine.SV4.3.91.960511083148.13232B-100000@larry.infi.net>
MIME-Version: 1.0
Content-Type: text/plain


There's no particular need for tax fraud, except by little guys. The big 
guys have lots of legal techniques. A prime example was the notorious 
$1000->$100,000 cattle futures transaction that Hillary Rodham Clinto 
did, just before entering the White House. Clearly, it wasn't an 
investment: it was a scheme to let some rich Arkansas guy pay a bribe - 
legally.  A cooperative broker sets up a "short" position and a "long" 
position on a trade - then the positions get assigned, after the market 
has made its move, such that the guy "loses" the $100k  and Hillary "has 
a profit".