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A Tax Break for the Rich Who Can Keep a Secret - The New York Times
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Some Americans are delaying taxes on their stock profits for years or decades--or, in some cases, never paying at all; deals are perfectly legal but only if one has $5 million of stocks and bonds and promises to keep it secret; executives and investors with $5 million of stocks and bonds contribute at least $1 million of their stock in single company to pool into which others in same situation contribute their own shares; in return they receive shares of partnership that owns pool; whey they are ready to withdraw from pool, partnership gives them not their original shares or cash but instead shares of varity of stock held by pool; as result, someone with too much money in one stock can quickly diversify into more balanced portfolio; unlike other investors, who have to pay taxes on profits when they sell stock, no taxes are owed on profits of shares contributed to pool (M)
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