Oops. Got the stories crossed.
It’s John Paulson moving to PR.
Flaaco just signed a contract making him the highest paid NFL player ever.
Well, kinda … more on that below.
It’s being reported that hedge fund legend John Paulson is considering leaving New York to go to Puerto Rico, where a tax loophole would let him reduce taxes on the $9.5 billion he has in his own hedge fund.
Bloomberg reports that several wealthy Americans have already taken advantage of the year-old Puerto Rican law that lets new residents pay no local or U.S. federal taxes on capital gains.
Note: The marginal tax rate for affluent New Yorkers can exceed 50 percent.
Back to the Flacco story … (more…)
The Homa Files 