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- Aug 20, 2000
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Any chance the government will do something about this?
I'm confused here. I keep seeing this sentiment, "We gotta do something!"Any chance the government will do something about this?
Any chance the government will do something about this?
Plus a lot of the financial shenanigans going on in Delaware, South Dakota etc. is where a lot of the shady US ultra rich people have started to hide their money in the last decade instead of places like Belize, Switzerland, Cayman Islands etc.But apparently not a lot of US people were involved, because it’s cheaper to just use the US legal system.
Fair points but no one appreciates seeing the wealthiest pay less as a percentage of income than they do. There are so many loopholes and scams in the tax code, as much as I don't agree with having a flat tax on income, it would actually be an improvement on the current regressive system in the US.'Hide', as if governments have a right to it or would do anything better with it.
This is why Biden had to pressure the G8 (7? 6? 9?) to raise corporate tax rates in concert with the US. Turns out market forced work on governments too.
Jealousy is a mortal sin.
Consumption based tax with simple exemption or rebate for a 'basic standard of living' with regular COLA.
I'm not sure what is so bad about offshoring or foreign investment.
It's not complicated. If you're making your money in a country, you should be paying the tax in that country on what you made.
Because you make that money taking advantage of the basic public facilities provided by that country's infrastructure: roads/bridges, water, power grids, security, education, etc. etc. etc. All things that need to be maintained, supported and improved upon through research and development for the public good.
And no, private interests cannot be trusted to do the job without significant oversight.
Why are you taxed on what you made, when you’re also taxed on what you spend, and soon, what you might make (but haven’t; simply to freak out crypto coin investors who might get rich overnight).
A consumption tax would be fine to me. If we have a government set up from top to bottom in a way that laser focuses legal, police, market protections on the rich, why are the poor and middle class paying? Why are, for example, black people obligated to pay income or property taxes when the country on just about every level ignores them?
Something needs to change. The government is overtaxing people for what the government provides, so that it can piss the lions share away from theb98%. most of our tax code has been used to facilitate massive wealth transfers from the middle class to the rich, to foreign nations demanding tribute, to police acting as prison guards, etc.
Let’s not completely go all-in on the status quo.
Tax wealth.
-Not income.
-Not consumption.
If the fundamental purpose of goverment is to protect wealth, then wealth shall pay for it.
We are the tax shelter now.But apparently not a lot of US people were involved, because it’s cheaper to just use the US legal system.
'Hide', as if governments have a right to it or would do anything better with it.
This is why Biden had to pressure the G8 (7? 6? 9?) to raise corporate tax rates in concert with the US. Turns out market forced work on governments too.
YuppersYou may be thinking of the Panama Papers.
I haven’t read too far in to these documents yet, but I’m guessing the leak is an attempt to draw attention to perceived unfairness (ie not paying taxes)
given the documents are about a number of foreign leaders it’s almost certain some of these people are actually stealing or laundering public money for private gain.
I think the problem for most is that we don’t have the wealth to game the system like they do. If I want to flip the bird to the IRS I can do so, but eventually it will be from inside the slammer.
First you need to concentrate on large companies, the corporate tax rate.
Then you can worry about individuals (whales).
WHy do you rob banks? Because that's were the monies at.
Draw attention for what purpose?