3 ms·

> You don't believe that an individual who robs the country of taxes on 300m of assets isn't abusing the other citizens of the society? Are you against prosecut

by GDC7 5y ago

> You don't believe that an individual who robs the country of taxes on 300m of assets isn't abusing the other citizens of the society? Are you against prosecuting money launderers for some libertine reason? There are no taxes due on the sale of illegal drugs, otherwise they'd not be illegal. As a matter of practicality , given that the war on drugs is just a massive jobs program you might as well optimize for inefficiency and somebody in the chain of command should openly say that and thus focus on getting the drugs, not the money connected to the drugs. It's more inefficient and time consuming which in this case it's a good thing. Everybody would be happier and more fulfilled (which again is the goal of the aforementioned jobs program) , except ,of course, big shot prosecutor making big announcements of seizes of millions of dollars, or in this case bitcoins

toomuchtodo 5y ago
Income on illicit activities is absolutely taxable. That’s how the IRS got Capone. The IRS will then involve other law enforcement agencies, sharing the data submitted. https://taxfoundation.org/irs-guidance-thieves-drug-dealers-and-corrupt-officials/ https://taxfoundation.org/irs-guidance-thieves-drug-dealers-... https://www.wbez.org/stories/how-al-capone-made-the-irs-famous/b024838d-6b4e-402a-a001-7ba2e3b030ea https://www.wbez.org/stories/how-al-capone-made-the-irs-famo...
- GDC7 5y ago
  > The IRS will then involve other law enforcement agencies, sharing the data submitted Let's be real, if the IRS really wanted that money they'd have thousands of anonymous cash drop boxes One of the problems is that there is no competition among 3 letter agencies In this case the interests of the IRS and the DEA are orthogonal , but the IRS doesn't worry about it (as a private entity would) because they can just ring a bell and get everybody involved , but the problem is that there is nobody asking themselves if the whole process which is about to be put in motion will be a net negative or net positive for all the stakeholders In a private organization the C-suite executive thinks about this question many times before ringing said bell, regardless of what the black ink on the white paper says. The mental and organizational agility is the real difference between the private and public sector. In the private sector, if the rules don't make sense they are broken and later eliminated, the opposite happens in the public sector. Laws upon laws are made, no law is ever eliminated, and red tape submerges the whole organization

by GDC7 5y ago

toomuchtodo 5y ago

Income on illicit activities is absolutely taxable. That’s how the IRS got Capone. The IRS will then involve other law enforcement agencies, sharing the data submitted. https://taxfoundation.org/irs-guidance-thieves-drug-dealers-and-corrupt-officials/ https://taxfoundation.org/irs-guidance-thieves-drug-dealers-... https://www.wbez.org/stories/how-al-capone-made-the-irs-famous/b024838d-6b4e-402a-a001-7ba2e3b030ea https://www.wbez.org/stories/how-al-capone-made-the-irs-famo...

GDC7 5y ago
> The IRS will then involve other law enforcement agencies, sharing the data submitted Let's be real, if the IRS really wanted that money they'd have thousands of anonymous cash drop boxes One of the problems is that there is no competition among 3 letter agencies In this case the interests of the IRS and the DEA are orthogonal , but the IRS doesn't worry about it (as a private entity would) because they can just ring a bell and get everybody involved , but the problem is that there is nobody asking themselves if the whole process which is about to be put in motion will be a net negative or net positive for all the stakeholders In a private organization the C-suite executive thinks about this question many times before ringing said bell, regardless of what the black ink on the white paper says. The mental and organizational agility is the real difference between the private and public sector. In the private sector, if the rules don't make sense they are broken and later eliminated, the opposite happens in the public sector. Laws upon laws are made, no law is ever eliminated, and red tape submerges the whole organization