Careers that pay well

[duke500]

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Why does someone like Paulson, who is 63 and has a net worth of over $700MM, take a job in the public sector?

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<p>Because by doing so he was able to cash out ~$500MM of his stake in GS without paying taxes on it.</p>

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By accepting the Treasury post, Paulson is poised to take advantage of a tax loophole that allows government officials to defer capital gains taxes on assets they have to sell to avoid a conflict of interest, as long as the proceeds are reinvested in government securities or a broad array of mutual funds approved by the government within 60 days.

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<p>

After all, if he were to completely divest himself without any tax relief, he would be staring at a tax bill of well over $100 million, Willens says.

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<p>[A</a> Loophole For Poor Mr. Paulson - Forbes.com](<a href=“http://www.forbes.com/2006/06/01/paulson-tax-loophole-cx_jh_0602paultax.html]A”>A Loophole For Poor Mr. Paulson)</p>

<p>Money runs Wall Street, clearly. There are exceptions to the rule, but the bottom line is the bottom line, pun intended.</p>

<p>Awped, you are embarrassing. I chose Duke over the two Ivy League schools I could have gone to-- I hope you’re having fun at your trade school (to which I did not apply.) </p>

<p>You’re probably in the CorpFin or Ops group. I’d be jealous if I were you too.</p>