I was the owner of an entity which was a management entity. That entity was one which I had ownership of until the time of the retirement program was put in place–Mitt Romney, explaining something or other

The very rich are different from the likes of you and me.

We are merely humans, but they’re an entity:

 A holding corporation, a partnership or trust

That magically can prosper when the rest of us go bust.

They shelter all their income with the useful legal fiction

Of setting up a business in some offshore jurisdiction

Depreciate their children, and earn their heartfelt thanks

For paying their allowances in sterling and Swiss francs.

Incorporate their families, and thus they can pretend

They’ve earned a tax deduction for everything they spend.

It’s far beyond what you or I could ever comprehend

But if companies were people, would you want one for a friend?

The very rich are different, as Scotty used to say.

They have much more money, and they’re keeping it that way.

Advertisements