We shouldn’t be surprised to see Libertarian Peter Thiel has been avoiding taxes —legally!— for years, but you might be surprised how he did it:
ProPublica’s treasure-trove of IRS data continues to pay off for all of us as we learn of the many loopholes that the super-rich and well-marbled fat cats use to avoid paying their fair share.
Here’s the short version of the article: Thiel has taken a retirement account worth less than $2,000 in 1999 and turned it into $5 billion —and as long as he waits to withdraw the money until age 59 and a half— he’ll never pay taxes on any of it.
How does one get away with it, you ask? Instead of paying taxes Thiel collects Senators, and that Scissorheads is how to get rich quick.