Panama Papers... and why nothing will come of it

[Chizzang]

I think Tax Avoidance is our Right as American citizens
We should all pay the least amount legally possible - and not a penny more

Tax Fraud is where the cheering and applause should probably stop

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

Tax Fraud would be:
Misrepresenting your taxable income in such a manner as to avoid taxation
illegitimate means - as defined by the standard tax code

[Baldy]

I think Tax Avoidance is our Right as American citizens
We should all pay the least amount legally possible - and not a penny more

Tax Fraud is where the cheering and applause should probably stop

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

I wasn't crowing the opposite.

Only a fucking fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

[DSUrocks07]

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

I wasn't crowing the opposite.

Only a **** fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Taxpayers are to the IRS are like Blacks are to the Police

#WealthDiscrimination
#TaxpayerLivesMatter

[JoltinJoe]

cough, cough, Lionel Messi, cough, cough ...

[kalm]

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

I wasn't crowing the opposite.

Only a fucking fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Yes, Baldy. I understand. I said as much in my first reply on this thread. The bigger scandal is the manipulation of the system to make these type of things legal.

[kalm]

I wasn't crowing the opposite.

Only a **** fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Taxpayers are to the IRS are like Blacks are to the Police

#WealthDiscrimination
#TaxpayerLivesMatter

[kalm]

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

Tax Fraud would be:
Misrepresenting your taxable income in such a manner as to avoid taxation
illegitimate means - as defined by the standard tax code

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

[CAA Flagship]

Tax Fraud would be:
Misrepresenting your taxable income in such a manner as to avoid taxation
illegitimate means - as defined by the standard tax code

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

Not all of this is based on tax avoidance. Some of this is because people do not trust the financial system in their own countries, or do not trust their own government. They are just trying to protect their assets.

[kalm]

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

Not all of this is based on tax avoidance. Some of this is because people do not trust the financial system in their own countries, or do not trust their own government. They are just trying to protect their assets.

But they trust Panamanians ?



(I get it, you were talking about countries other than the US)

[Baldy]

I wasn't crowing the opposite.

Only a **** fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Taxpayers are to the IRS are like Blacks are to the Police

#WealthDiscrimination
#TaxpayerLivesMatter

Ummm...I think I covered that with the "crack dealers" line.

[Baldy]

Tax Fraud would be:
Misrepresenting your taxable income in such a manner as to avoid taxation
illegitimate means - as defined by the standard tax code

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

People keeping their (and I mean THEIR) own money by all legal means necessary is nothing at all like the 2008 crash. Plenty of laws were broken, and there could have been plenty of prosecutions but the biggest crooks were government employees high on the food chain. Government employees that high on the food chain never get prosecuted, ever.
Our critters in Congress will fix that problem by passing new stronger, stricter laws that will never be followed and never enforced.

Very similar to the immigration problem. Liberals cry about the "system being broken". Bullshit!!!
Our "leaders" are choosing not to follow and enforce the laws on the books. Not doing so is what causes the system to be broken.

[kalm]

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

People keeping their (and I mean THEIR) own money by all legal means necessary is nothing at all like the 2008 crash. Plenty of laws were broken, and there could have been plenty of prosecutions but the biggest crooks were government employees high on the food chain. Government employees that high on the food chain never get prosecuted, ever.
Our critters in Congress will fix that problem by passing new stronger, stricter laws that will never be followed and never enforced.

Very similar to the immigration problem. Liberals cry about the "system being broken". Bullshit!!!
Our "leaders" are choosing not to follow and enforce the laws on the books. Not doing so is what causes the system to be broken.

Creating a system where money can be off-shored and laundered and it's legal at it's core is very similar to 2008.

I agree that government employees facilitated the graft in 2008 but they aren't the biggest crooks by dollars.

[YoUDeeMan]

Very similar to the immigration problem. Liberals cry about the "system being broken". Bullshit!!!
Our "leaders" are choosing not to follow and enforce the laws on the books. Not doing so is what causes the system to be broken.

Winner!

[SDHornet]

Reading this thread, you would think that tax avoidance is almost admirable.

I think Tax Avoidance is our Right as American citizens
We should all pay the least amount legally possible - and not a penny more

Tax Fraud is where the cheering and applause should probably stop

Nailed it.

[houndawg]

Why do you think I disagree?

I stole the term "avoidance" from Baldy in another thread as he was crowing the opposite.

Now, please define "tax fraud" as I asked you earlier in THIS thread...

I wasn't crowing the opposite.

Only a **** fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Amen, bro. I had to quit working because my wife makes too much money and we don't have any deductions left.

[houndawg]

Thank you.

I find this situation very similar to the 2008 crash...

No laws were broken!

We can't prosectute!

This behavior is bad! Bad I tells ya! But let's condone it by doing nothing and supporting the same politicians and system that created it!

People keeping their (and I mean THEIR) own money by all legal means necessary is nothing at all like the 2008 crash. Plenty of laws were broken, and there could have been plenty of prosecutions but the biggest crooks were government employees high on the food chain. Government employees that high on the food chain never get prosecuted, ever.
Our critters in Congress will fix that problem by passing new stronger, stricter laws that will never be followed and never enforced.

Very similar to the immigration problem. Liberals cry about the "system being broken". Bullshit!!!
Our "leaders" are choosing not to follow and enforce the laws on the books. Not doing so is what causes the system to be broken.

That's because their leaders wish to keep wages down.

[Baldy]

People keeping their (and I mean THEIR) own money by all legal means necessary is nothing at all like the 2008 crash. Plenty of laws were broken, and there could have been plenty of prosecutions but the biggest crooks were government employees high on the food chain. Government employees that high on the food chain never get prosecuted, ever.
Our critters in Congress will fix that problem by passing new stronger, stricter laws that will never be followed and never enforced.

Very similar to the immigration problem. Liberals cry about the "system being broken". Bullshit!!!
Our "leaders" are choosing not to follow and enforce the laws on the books. Not doing so is what causes the system to be broken.

That's because their leaders wish to keep wages down.

Very true, and Burney wants to keep us following that same path.

You support him, why?

[Baldy]

I wasn't crowing the opposite.

Only a **** fool would pay one red cent more in taxes than they are legally required to pay. If you think (in your opinion) the law is wrong and the people taking advantage of every single legal loophole are cheaters, then sign me up, I'm a cheatin' son of a bitch.

The people I deal with avoid taxes like a crack dealer avoids the police. Normal people avoid taxes the same way I try to avoid my in-laws. There is a little bit of difference between the two.

Amen, bro. I had to quit working because my wife makes too much money and we don't have any deductions left.

That is a textbook reason why you do not tax income.

[Chizzang]

Amen, bro. I had to quit working because my wife makes too much money and we don't have any deductions left.

That is a textbook reason why you do not tax income.

Agreed,
Taxing transactions is actually the key to solving tax inequalities
but what happens as a result is an abundant underground economy



Its not an easy problem to fix

[Baldy]

That is a textbook reason why you do not tax income.

Agreed,
Taxing transactions is actually the key to solving tax inequalities
but what happens as a result is an abundant underground economy



Its not an easy problem to fix

Totally agree. The key is enforcement. Making an example out of a few will go a long way. In one city I closed down two restaurants and a bar within a 3 block radius in a single month. Within two weeks, other business owners in the area were forming a line at my door begging to pay their delinquencies.

Speaking from the state level, the mechanisms are in place to enforce it, severely, but governments are less than anxious to lock up it's citizens for diverting public funds for personal use.

[Chizzang]

Agreed,
Taxing transactions is actually the key to solving tax inequalities
but what happens as a result is an abundant underground economy



Its not an easy problem to fix

Totally agree. The key is enforcement. Making an example out of a few will go a long way. In one city I closed down two restaurants and a bar within a 3 block radius in a single month. Within two weeks, other business owners in the area were forming a line at my door begging to pay their delinquencies.

Speaking from the state level, the mechanisms are in place to enforce it, severely, but governments are less than anxious to lock up it's citizens for diverting public funds for personal use.

I don't foresee a Tax Code Revolution on the near horizon in America

I mostly see two things:
1) Some people wanting "the 47%" to have at least some skin in the game
2) Some people wanting the 1% to have fewer escape hatches

and everybody else just going to work and saying "f*ck it" its broken and I have too much sh!t to do

[JohnStOnge]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

I am totally unfamiliar with Rand's work but I'm in favor of foiling the evil redistributionists. You have all these countries latching their wagons to successful people sucking their blood like parasites to score political points by passing out goodies most people don't have to pay full price for or pay for at all. If the successful people can find a way to gain some relief from the blood sucking tick frenzy I say "good for them."

[BDKJMU]

Amen, bro. I had to quit working because my wife makes too much money and we don't have any deductions left.

That is a textbook reason why you do not tax income.

Yep. National sales tax with exceptions for food, clothing, medicine.

Would solve:
-Get rid of 70k pages of tax code, hundreds of billions a year in compliance costs for individuals, small businness to large companies, along with the savings of a drastically smaller IRS..
-Get Americans to spend less and save more. Americans currently don't save nearly enough..

[BDKJMU]

That is a textbook reason why you do not tax income.

Agreed,
Taxing transactions is actually the key to solving tax inequalities
but what happens as a result is an abundant underground economy



Its not an easy problem to fix

Wouldn't be any worse than the hundreds of billions a year the IRS fails to collect under the current system..

[EWURanger]

I know that journalists are still going through the however many TB of data, but it's interesting that there's been so few American names leaked so far. On the other hand, I've been reading that it's almost as easy to hide money within the continental US these days as it is in the Caymans or other off-shore locations.

Would love to see some sort of direct links to the Clinton Campaign or their foundation.