forbes.com
Would I what? Cheat? Think about cheating? Admit to cheating? Or post an admittance of guilt on the 'net for the IRS to see?? LOL!!
I have never cheated on any tax form I have ever filed, Mr. Tax-man.
Truth be known, if I earned in the upper levels, I would be less inclined to cheat, I think, that at lower income levels. For someone making 20K, cheating to save a couple of hundred dollars would have much more impact than someone earning 20 times that (400K) cheating to save 20 times that amount.
20K income, cheat to save $200.00, or 1% of income. (99%=19,800.00)
400K income, cheat to save $4,000.00 or 1% of income (99%=$396,000.00)
See the difference?
I tend to support a national sales tax, over income tax. That way every dime spent gets taxed. All the dopers, hookers, criminals of every sort, AND the tax cheats, would be taxed on what they spend. The figures I have seen indicate not only substantially increased revenues for the govt, but also huge savings by reducing the size of the IRS and peripheral enforcement depts. by over half!! Additionally, it encourages savings, because savings would not be taxed until spent!
Sergeant RCWUSMC 1976-83Sleep well America.Your Marines are on Dutyamvettrans@wmconnect.com
These are the two key paragraphs that should not be ignored:
>>The main reason for the income-related cheating disparity: Higher income folks receive more of their income from sources that are easier to hide, including self-employment earnings; income from rents, partnerships and S corporations; and capital gains.
IOW, most people whose income is from wages have little opportunity to hide their income, since their employer sends the amount to the government. And that applies to most people with incomes less than $100,000. People whose income is not in wages, including those who make money from tips or in cash transactions have more ability to misrepresent their income.
BUT...some of the biggest potential for cheating on income is the small businessman or self-employed individual because they can deduct all kinds of expenses from their income, such as a personal car, a portion of their home, home heating costs, home garbage collection, meals, and even vacations.
Whenever i hear how bad an idea it is to raise taxes on people earning over $250,000, i think about how many of those are self-employed and are probably driving a luxury car all week that they deduct from their income.
Marty
Hi Teri
I'd rather not pay heavy taxes but I've done it all my life. What really makes me sick is watching from the side lines where people I know in my daily life, brag about how they have worked the system to avoid it, or claim and gain benefits for which they are not entitled. This is not to decry the system in the UK, which is excellent, and works mostly well, but gee I believe should be used for genuine situations, not this "I am lying through my teeth so give me the money" scenario which is all too common.
I used to think karma would deal it to them in the end, but it seems not so.... I am tired of the smug "well I got all this on state benefit". However, eternal optimist here, you never know <S> fate may hand me a full deck of cards one day!
A
PS: one small voiced gal standing up for the ones that are really, really trying!
The glass is always half full if you look close enough <S>
And I might even consider doing some things that weren't exactly legal. Would you? >>
Nope, it is not worth the "audit".
Maureen <Casual Chat>
I will admit, that if I had more money, I would be doing whatever I could to lower my taxes. And I might even consider doing some things that weren't exactly legal. Would you?
Everyone knows the rich hoard their money, don't pay their fair taxes and this is why money should be more transparent to shine the light of tax evasion on these people. Greed should be discouraged, controlled and penalized.
Everyone knows the rich hoard their money, don't pay their fair taxes and this is why money should be more transparent to shine the light of tax evasion on these people. Greed should be discouraged, controlled and penalized.>>>>I guess that would depend on your definition of rich. The people that I know who have money are actually very generous, not at all greedy. And while I don't like greedy people, if they want to hoard their money, that is their right, isn't it? After all, it's their money.
*teri* Casual Chat Forum
>>> I guess that would depend on your definition of rich. The people that I know who have money are actually very generous, not at all greedy. And while I don't like greedy people, if they want to hoard their money, that is their right, isn't it? After all, it's their money <<<
I'm not into semantics, the table you referenced showed tax evasion by those in the upper levels of income. The IRS I'm sure is working on ways to limit this mischief.
Everyone knows the rich hoard their money, don't pay their fair taxes and this is why money should be more transparent to shine the light of tax evasion on these people. Greed should be discouraged, controlled and penalized.>>
Can you please define "hoard"? From what I see of the higher income people if they in fact hoarded money, the economy would come to a major standstill. Right now they are the ones contributing to the "spending" that may be keeping some business afloat. Higher income pay far more taxes percentage wise that average income folks. If they are earning their income legal and are in fact paying their fair share of taxes, what would you consider them greedy? Why would you think they are cheating just because they make a decent living? I try not to generalize people, I have know folks in low to mid income to cheat at taxes and get away with it. Most folks do not want an audit, and especially the wealthy, as they are probably being watched far more closely that the average income household.
There was an article not long ago on folks making six figures were being audited an average of 3 out of a hundred, compared to lower income average $20,000. to $50,000 at 3 out of a thousand. I will try and locate to article..
strangely though.according to the statistics. poor people are far more generous in relation to their income than rich people are.maybe its just your small circle of friends that are generous, or more likely, they simply lie about being generous.>>
Can you provide the source of those statistics? Many of the rich and famous are quite known for their generosity, far more that some of us can imagine. Some wealthy families probably donate for tax breaks but even if that is the case, the benefit the hospital the charity whatever they contribute to is benefiting form generosity..
what about the 700 billion to the financial guys? do you honestly think that all 700 billion dollars was lost due to the fall of the economy? if that was true they would have lost another 700 billion by now or more.its all about rich people who cannot conceive of what is ENOUGH!>>
Are you referring to the financial institutes that were lending beyond their means? If so it was the mismanagement of banks loaning money to folks that has no business getting those loans, they were not qualified and could not pay back such loans... I think you have to blame the financial banking world and not as you refer rich people. In this case it could be said it was GREED by the financial industry.
you mention obama and the clintons and dont even utter the name bush? do you have any idea how funny that is?the bush family and thier cronies have taken TRILLIONS of dollars from the united states. look into the origins of haliburton as well as the origins of many of the other military suppliers we have started to use since gw became president. then omg, you say something about joe the plumber being right? do you even know what he said or are you relying on some news pundit who makes a career from preying on the intensly ignorant? JOE THE PLUMBER WAS WRONG. he will fare better under the obama plan than he would have under mccain's. people in this country honestly scare the heck out of me sometimes. so involved with being self absorbed that they never even bother to research that their fears are real.>>
I think there is a bit of thread drift going on here... <LOL> not that it matters around here, actually normal... however.. do you really honestly think Bush is getting away with TRILLIONS?
