America seems to have become the land of the free for only the largest organizations and political donors.
I found that out very fast when our household income, rather quickly, went up and put us in the top 0.01% of earners. Rather than pay even the measly 13-20% we owed for 2016 (about $100k) we structured things to reduce our "income" to almost 0, then got on a payment plan for 10 years. All in all it will reduce that years tax burden alone from $100k to ~$50k.
The next year we were able to show a large loss so in effect are now off the hook for paying new taxes for the next ~4 years.
Sure, we could "donate" a lot more to the US if we wanted but this was all done with a consultant and is 100% legeal, so why pay more than we need to when the system makes it so easy?
IMHO, companies should operate in one of two modes... either paying shareholders any profit (zeroing out) or growing/expanding (zeroing out) and wouldn't pay taxes in either mode. I'm fine with either.
Very controversial libertarian thought, but not necessarily a dystopian one. Are you talking about income tax in general or just federal one? (Not sure we can do much with federal one)
But we def can do something with local taxes. Shifting some of the "governmental" responsibilities and distributions (police, fire dept, DMV offices, schools, etc etc) to a more efficient private entities (entities that can be laid off when not performing) might give local communities a huge boost. This might trigger a great backlash from UBI proponents though, since most of the government jobs are basically some versions if the UBI (you get you paycheck only for showing up kind of thing).
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[ 3.1 ms ] story [ 22.6 ms ] threadI found that out very fast when our household income, rather quickly, went up and put us in the top 0.01% of earners. Rather than pay even the measly 13-20% we owed for 2016 (about $100k) we structured things to reduce our "income" to almost 0, then got on a payment plan for 10 years. All in all it will reduce that years tax burden alone from $100k to ~$50k.
The next year we were able to show a large loss so in effect are now off the hook for paying new taxes for the next ~4 years.
Sure, we could "donate" a lot more to the US if we wanted but this was all done with a consultant and is 100% legeal, so why pay more than we need to when the system makes it so easy?
Very controversial libertarian thought, but not necessarily a dystopian one. Are you talking about income tax in general or just federal one? (Not sure we can do much with federal one)
But we def can do something with local taxes. Shifting some of the "governmental" responsibilities and distributions (police, fire dept, DMV offices, schools, etc etc) to a more efficient private entities (entities that can be laid off when not performing) might give local communities a huge boost. This might trigger a great backlash from UBI proponents though, since most of the government jobs are basically some versions if the UBI (you get you paycheck only for showing up kind of thing).