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I don't support any GOP tax efforts that don't involve realistic simplification of the tax code.
As I've said, I'm related to several tax attorneys, most of whom are/were corporate attorneys and a few of whom are personal tax attorneys. They will tell you that the two are completely separate disciplines. I've emailed one who does personal taxes to get his take on your opinion on that specific shelter as well as the averate tax rate for the wealthy. My guess is that he will disagree.
I routinely pay significantly more than $12k/year in taxes. I haven't paid less in at least 10 years, probably longer, and this year was multiples of your number. But your results may vary.
I'm really curious where you're getting your information since some of it is very clearly wrong - the tax rate on bonuses, the ability to shelter large single payment, etc. I have the feeling that you need to shop for a new advisor since many of your "facts" fly in the face of what I know to be true.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." - B. Franklin
"There ought to be limits to freedom." - George W. Bush
"We have met the enemy and he is us." - Pogo
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