Saturday, July 08, 2006

Dragons Den bankrupt

The dominion post today indicated that various creditors were "surprised" to see their "bankrupt busy working on the dragons den handing out "dosh" and say ing he was worth 20 million.
By the looks of it this is another example of the trust effect. Is he worth 20 million - could be! Can his creditors or the tax department get their hands on it? Nope.

Every man and his dog "should" have a trust. The trust system is basically a tax on non trust users. If you don’t use one you pay more in all sorts of ways and get less. At the same time everyone without a trust should be campaigning to get them neutered or made illegal because in the meantime they are subsidizing those who have such instruments probably to the tune of thousands of dollars a year.

This may expose a problem with our system - those who are cheating the system know it and want to protect their loop hole - those that don’t know that it exists.


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