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It demonstrates not just their cash flow and taxes, but in addition their investments, stock trades, gambling winnings and in many cases the results of audits.

Icahn acknowledged that he's a “huge borrower. I do borrow lots of money.” Asked if he usually takes out loans also to decrease his tax bill, Icahn mentioned: “No, not at all. My borrowing should be to get. I benefit from the Levels of competition. I enjoy profitable.”

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Because then, the notion that income comes only from proceeds — when gains are “recognized” — has long been the bedrock of the U.

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