3 ms·
Tax evasion is my biggest gripe against the existence of cash. As a professional working for a company, I have little or no means of avoiding tax. Rich people
by deepspace 3y ago
Tax evasion is my biggest gripe against the existence of cash.
As a professional working for a company, I have little or no means of avoiding tax. Rich people can and do pay expensive lawyers and accountants to exploit loopholes in tax law, to minimize their tax liability.
People in cash-friendly occupations, like contracting, likewise have the ability to hide income through under-the-table cash transactions.
Which leaves poor saps like me to carry an unfair percentage of the tax burden, just so that a few people can feel like they are evading government supervision. (Hint: they are not).
- AnthonyMouse 3y ago> just so that a few people can feel like they are evading government supervision. (Hint: they are not). It seems like you're conceding your own point here. If you live in a mansion and drive a Ferrari and claim you only make $15,000/year to the IRS, you're going to jail like Al Capone. Whereas what cash allows you to do is keep anyone from knowing every little thing you buy, which is irrelevant to income tax which by then you've already paid and also irrelevant to sales tax which is collected by the seller even if they don't know who you are.
- deepspace 3y agoThe only time I would be worried about authorities knowing what I am buying would be if I were buying an axe, a rope and a shovel. The people cheating taxes through cash transactions are not driving Ferraris, but they are buying groceries with un-taxed wads of money at Costco.