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As a high net worth business owner, I know a lot of wealthy people. They will simply follow prevailing trends on tax... If most of their peers are avoiding or j
by joelx 7y ago
As a high net worth business owner, I know a lot of wealthy people. They will simply follow prevailing trends on tax... If most of their peers are avoiding or just not paying tax, they will do the same. It is incredibly important that tax laws be strictly enforced or wealthy people will simply not pay.
Pretty much only form letters should be used for low income people.
- thoughtexprmnt 7y agoI'm sure that strategy of "simply not paying" works great, right up until the day it doesn't and you find yourself facing huge fines and prison.
- f5thesystem 7y agoThe trick is to die before that day comes.
- joelx 7y agoCheck the New York times reporting on Fred Trump and Donald Trump. It is clear to elites that just outright breaking tax law has no repercussions. More and more wealthy people are understanding this, and will not pay or will underpay taxes. It's critical that taxes be enforced uniformly and in every case.
- twostorytower 7y agoYou can even break tax law and become President!
- ljm 7y agoAt some point you can become wealthy enough that a good accountant is cheaper than paying a good proportion of the tax, in which case it’s not a case of ‘not paying tax’ any more, it’s a case of maximising profit. The poor can’t afford to do anything but not pay tax, the rich can pay for all kinds of tricks to hide their money from the government while paying some paltry, but still seemingly legit, portion of tax.