01-19-2014 01:50 PM
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  1. Timelessblur's Avatar
    How are you a crook for doing something currently legal under our current tax code? That thinking alone is symptomatic of our political system. Instead of being mad at how the system is set up, we get mad at the people using the rules to their advantage and then want to punish them for doing so. How does that make any sense?

    Now the idea about avoiding the national sales tax is probably nothing to worry much about. To do so would mean they are subject to the taxes in the other locations, massive shipping charges, customs (either dealing with or smuggling around them), and probably a whole host of other issues. Unlike now where an off shore corporate bank can be set up virtually anywhere and funds handled electronically, shopping off shore would require much more expensive stores, warehousing, and their own shipping/stocking issues. I doubt it'd be financially beneficial to try avoiding paying the Fair Tax by shopping outside the country.
    Problem is many of them cheated to get those "rules" in place by bribing political leaders threw campaign financing.
    When regon cut taxes in the 80s he said they were going to close loop holes in the tax code to make up for the lost. 30 years later the gop has yet to make good on that promise.

    Sent from my SAMSUNG-SGH-I337 using Tapatalk
    01-13-2014 05:39 AM
  2. anon8126715's Avatar
    How are you a crook for doing something currently legal under our current tax code? That thinking alone is symptomatic of our political system. Instead of being mad at how the system is set up, we get mad at the people using the rules to their advantage and then want to punish them for doing so. How does that make any sense?
    If it was legal, why did the government provide "Tax amnesty" a few years ago for a lot of people, and why did Mitt Romney hide his Tax Amnesty during the elections? Who do you think bribed the politicians into creating those tax advantages?

    I'll agree that we should focus our anger at our politicians, but to insist the people that benefit from those tax loopholes shouldn't be the subject of our ire because they "worked hard", just another example of people putting the wealthy up on a pedestal.

    For the record, I do believe that some of the wealthy do deserve our admiration. Bill Gates and Warren Buffet are good examples. They understand it. They're immeasurably wealthy but understand that there should be a balance and are trying to restore that balance. They aren't just content with amassing their wealth and shunning away the rest of society.

    I guess will never understand the "I've got mine, the hell with the rest of you" mentality. I actually see it quite often at work, mostly with people trying to hoard their knowledge because they think it makes them more valuable to the company. I guess if you don't have any talent to begin with, you don't want to share what little competitive advantage you have. I'd rather share my knowledge with my co-workers, hope that they reciprocate, and do what's best for the company as a whole, not just do what's best for them.
    01-13-2014 06:00 AM
  3. Mooncatt's Avatar
    Problem is many of them cheated to get those "rules" in place by bribing political leaders threw campaign financing.
    When regon cut taxes in the 80s he said they were going to close loop holes in the tax code to make up for the lost. 30 years later the gop has yet to make good on that promise.
    As I've already pointed out before, even when trying to simplify the tax code, it still lead to the mess we have today. It's not just one side, but government over all that has complicated the current tax code.
    That's also why any plan to yank that power and corruption from government has to start with the people, and why I'm so vocal about promoting this plan. The bills gain co-sponsors all the time, but the law makers won't do so without constituent support.


    If it was legal, why did the government provide "Tax amnesty" a few years ago for a lot of people, and why did Mitt Romney hide his Tax Amnesty during the elections? Who do you think bribed the politicians into creating those tax advantages?
    It is legal to hold they money outside the U.S. when earned outside the U.S. The tax amnesty just gave those companies a break on taxes if they brought the money into U.S. accounts as an effort, I believe, to boost our economy. (Side note, anyone else notice how big government always wants to tax big businesses to punish them or "help the lower/middle class," but uses tax breaks when push really comes to shove? Heck just look at cities when competing for a manufacturing complex to be built, waiving all sorts of taxes. That should be pretty telling.)

    I'll agree that we should focus our anger at our politicians, but to insist the people that benefit from those tax loopholes shouldn't be the subject of our ire because they "worked hard", just another example of people putting the wealthy up on a pedestal.
    I don't always put the wealthy on a pedestal, but I also don't automatically assume someone is bad because they are wealthy. Most rich people are self made and earned their wealth honestly, and are some of the most generous people around. I'm not going to demean them because some bad apples lobbied their way into power and money. We need an attitude shift in this country where we do look up to those around us that were better off. Not with stars in our eyes, but to learn from them and use that knowledge to better our own lot in life. Not want to drag them down to our level or hate them because they've achieved a level of success may never see.
    01-13-2014 01:32 PM
  4. anon8126715's Avatar
    It is legal to hold they money outside the U.S. when earned outside the U.S. The tax amnesty just gave those companies a break on taxes if they brought the money into U.S. accounts as an effort, I believe, to boost our economy. (Side note, anyone else notice how big government always wants to tax big businesses to punish them or "help the lower/middle class," but uses tax breaks when push really comes to shove? Heck just look at cities when competing for a manufacturing complex to be built, waiving all sorts of taxes. That should be pretty telling.)
    But, when a company claims their headquarters is in one of these tax havens for the sole purpose of defrauding the U.S. government, that's when it's not legal http://www.cbsnews.com/news/a-look-a...ns-25-03-2011/

    As far as states giving tax havens, what happens is roads and infrastructure suffers because these companies generate more traffic in the new areas and the areas then don't get the maintenance they need. Texas is bad about that, and what Texas has decided to do is to make a bunch of toll roads to help offset the costs, reduce education spending, and other bad policies. While it makes numbers look good for now, once it's time to pay the piper, we're going to be hurting.
    01-13-2014 07:50 PM
  5. Mooncatt's Avatar
    But, when a company claims their headquarters is in one of these tax havens for the sole purpose of defrauding the U.S. government, that's when it's not legal http://www.cbsnews.com/news/a-look-a...ns-25-03-2011/

    As far as states giving Fair Tax havens, what happens is roads and infrastructure suffers because these companies generate more traffic in the new areas and the areas then don't get the maintenance they need. Texas is bad about that, and what Texas has decided to do is to make a bunch of toll roads to help offset the costs, reduce education spending, and other bad policies. While it makes numbers look good for now, once it's time to pay the piper, we're going to be hurting.
    The CBS site is being dumb and redirects me to their mobile version home page no matter what I do, so I can't view the link right now. Still, we could debate the legalities of off shore headquarters until the cows come home. It doesn't change the fact that the a Fair Tax would eliminate the desire to do so in addition to making us the tax haven for other multi-national companies. Our current system is why we had Daimler-Chrysler instead of Chrysler-Daimler when that merger took place.

    In terms of the tax haven, doing so in the U.S. would be illegal, as the federal law would trump a state or city opting out. They also have incentive to collect and remit tax revenues because the states (and retailers for that matter) would be paid for their efforts. I think it is something like 1/4 or 1/2 of 1% of collected revenues. I'd have to double check that figure.

    The tax havens as they exist now in the U.S. have little to do with road maintenance, as that increased traffic results in increased fuel taxes that can be used to offset the increased road use. Not to mention, while the corporation may have reduced taxes, the employees generate more income taxes (under the current system anyway unless it's a state like Texas), and newly employed people are now spending more, both generating additional sales taxes and reducing government assistance demands. So it's still an overall win for the affected economy, so long as the government spends wisely too. I am with you on the toll road issue and have been following that debacle of that new one in Austin. Basically, toll roads are double taxation in my opinion.
    01-13-2014 09:01 PM
  6. Mooncatt's Avatar
    Somehow double posted... ignore this
    01-13-2014 09:03 PM
  7. anon8126715's Avatar
    Somehow double posted... ignore this

    Quoting what you asked me to ignore just out of spite.....
    Mooncatt likes this.
    01-14-2014 06:52 AM
  8. gamefreak715's Avatar
    The top 1% income isn't from income tax, its capital gains so this is irrelevant.

    Posted via Android Central App
    01-19-2014 01:50 PM
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