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> The majority of them are run by law abiding citizens who want to follow the law. What’s your basis for this? Logically, it seems to fit that the reason cash
by prepend 5y ago
> The majority of them are run by law abiding citizens who want to follow the law.
What’s your basis for this?
Logically, it seems to fit that the reason cash is preferred is for the illegal aspect of tax dodging/money laundering. Because the numbers don’t add up otherwise.
It’s great that your family is honorable and did the right thing, but it’s just an anecdote, like OP’s. But it doesn’t explain why so many businesses would be able to stay in business doing so.
- fensterblick 5y agoThat the IRS is not overwhelmingly prosecuting this type of crime. What's the basis for the converse? What numbers don't add up?
- prepend 5y agoMy reasoning is that cash yields lower profits due to reduced purchases, higher insurance cost, higher crime risk. There doesn’t seem a reasonable reason to be cash only since, even though credit has a 3% hit or whatever, people spend more with credit. There’s a need for money laundering and that is much easier with cash only businesses.