Quote:
Originally Posted by ShellyCrash
Just out of curiousity, does anyone here know ANY millionaires that pay their taxes straight up?
I'm not looking to name names, but knowing several myself I can't think of a single one that doesn't employ some "creative" accounting come tax time.
Foreign bank accounts, tax shelters, family trusts, etc... in the end after all the manipulation proportionally they are probably not too far off.
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The smart ones use all of the legal means necessary to try to get screwed less hard. At the end of the day, unless they are committing tax evasion they are going to be hard pressed to cheat the govt out of less of a % then what the middle class is paying. Now, they can move money around and do things to not pay on it *this year* but when they take the money and use it, they paying taxes on it. Or if they die and it gets left to their heirs, the govt is taking taxes. You can legally avoid some but the "rich don't pay taxes is myth" by the uniformed common folk who would be happy to make the "rich" pay 85% of everything they make over 20 million dollars because after all who really needs that much money, its not fair, even if they give up 85% they still making millions.
money offshore is tax evasion plain and simple. If you live in the US, you better report what you make even if you send it offshore lol. If they catch you funneling money offshore and you are a US Citizen, you fucked if you not claiming it.