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[QUOTE="AlaskaSU, post: 1081529, member: 230"]
There is a common misconception about tax shelters.  People like Warren Buffet, and even common millionaires, derive most of their earnings on paper from capital gains.  They are taxed at say 30% on their capital gains.  What the libs do not realize is that: capital gains are derived from expenditures of after tax earnings.  In order words, capital gains tax is double taxation, no different than if the government decided that anyone that buys a boat with their own money should be singled out for an additional 30% tax.  Furthermore, the gvt does not pay the taxpayer that has a capital loss.  Its a one way street.

Another hidden tax is the corporate income tax.  Corporations pay the tax by passing it on to their customers.  When all is said and done, we have an out of control government.  Politicians are in the business of bribing voters and voters accept the bribe.  We are in a viscous cycle, no different from the one that wrecked Rome, Latin America, Greece, Italy, Spain, France and other basket cases.

As far as actual tax shelters: there are muni bonds, but their return is less than inflation.  Buying a farm is a good way to go.
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