[HN Gopher] Tax Evasion at the Top of the Income Distribution: T...
___________________________________________________________________
Tax Evasion at the Top of the Income Distribution: Theory and
Evidence (2021) [pdf]
Author : whack
Score : 67 points
Date : 2023-04-01 21:39 UTC (1 hours ago)
(HTM) web link (www.nber.org)
(TXT) w3m dump (www.nber.org)
| [deleted]
| logicallee wrote:
| Semi-related, I have a 1.5m invoice and need to pay taxes on it
| in about two weeks, it represents the vast majority of my
| business this year (95%+) and I have already borrowed around 10k
| toward it but I've maxed out my credit in fulfilling the project.
| It's on my books and I will collect it. If anyone here would be
| generous enough to consider lending the tax burden portion at a
| reasonable loan rate as a formal personal loan, please contact me
| via my profile to discuss details. You can review the contract,
| invoice and supporting documentation and check my references. We
| can also meet digitally or in person wherever you want, I'm easy
| to get a hold of and have been here for ten years.
|
| Edit: country is U.S.
| coolestguy wrote:
| Your country doesn't allow you to file taxes on a "cash
| collected" basis rather than an "invoiced but not collected"
| basis?
| logicallee wrote:
| U.S.
|
| From my searches it seems that since the contract is signed,
| I've invoiced for it, have started to collect payment and
| expect to finish collecting it and it is on my books, I must
| declare it this year.
|
| See: https://www.investopedia.com/terms/a/accruedincome.asp
| xiphias2 wrote:
| It's strange to have so much detail about tax evasion without
| talking about tax avoidance.
|
| Just because somebody keeps his money offshore and hides it from
| his government, doesn't necessary mean that it's illegal (Google
| and co are great examples of not hiding).
|
| Most people want to follow the law, they just want to optimize
| taxes.
| 0xcde4c3db wrote:
| The higher-end schemes have allegedly become so opaque,
| obscure, and fast-evolving that much of what goes on is only
| arguably legal rather than proven legal. This gray area has
| spawned the term "tax avoision".
| generalizations wrote:
| > arguably legal rather than proven
|
| In general, it's probably better if things have to be proven
| _illegal_. I 'd rather that my life wasn't limited to only
| doing those things which have been pre-approved. If there's a
| problem with something, then it should be explicitly
| prohibited; not the other way around.
| yunohn wrote:
| > Most people want to follow the law, they just want to
| optimize taxes.
|
| How does the average person avail these optimisation schemes?
| Do they also get to lobby for the loopholes?
| xiphias2 wrote:
| Learn languages (Duolingo), change countries depending on
| your income type, ask ChatGPT, set up companies for yourself.
| There are lots of ways to do it, and many average people are
| doing it already in different ways.
|
| For example for me just moving to Switzerland made both my
| tax percentage lower and more legal, salary much higher, and
| cleaner streets from those lower taxes than anywhere else I
| lived before. Somehow the government was able to afford
| professional cleaning machines from those lower taxes.
| yunohn wrote:
| I'm not sure you understood my point. Moving continents
| isn't an average person solution. In fact it exposes
| another problem - companies can easily register anywhere
| and restructure their finances for lower taxes.
| dontreact wrote:
| It's not a very fair system if only certain participants can
| afford to avoid taxes. If these schemes were doable for most
| folks and not only the very rich then no one would have an
| issue with the system (assuming that it provided enough
| revenue).
| samstave wrote:
| At what level should we expect "finDox'ing" vs "personal
| privacy"?
|
| i.e. ; Should we expect full transparency of billionaires, but
| not minimum wage workers?
|
| US Tax Code is horrific, and corrupt.
|
| But, what do?
| phs318u wrote:
| How about full transparency for companies? Companies are not
| people. The only way billionaires are able to evade taxes is
| through complex networks of companies.
| systemvoltage wrote:
| TBH, I am equally worried about the other side of the tax
| party. How my tax funds are spent and how efficiently they are
| allocated.
| themitigating wrote:
| Do you have information that it's not spent effectively?
| sacnoradhq wrote:
| It's regulatory/legislative capture by the very rich of the US
| gov.
|
| Change the political operating system from the top. It cannot
| be reformed from within. The perpetual failures of campaign
| finance reform proves this. The only path forward is nonviolent
| mass mobilization. Never give in to learned helplessness.
| themitigating wrote:
| Enforcement
___________________________________________________________________
(page generated 2023-04-01 23:00 UTC)