economics

[jtexas]

Re: economics

ROFLMAO Nathan! USC Title 26 gives enforcement responsibility to Treasury. Although it is interesting to note that IRS Revenue Officers (not Agents) use BATF (a separate Treasury agency) regs to justify carrying weapons.<br /><br />The answer to #7 is in fact a bald-faced lie. Look it up.<br />USC Title 26 Section 1 "There is hereby imposed ... a tax ...."<br />Questions of constitutionality aside, it is the law of the land, obey it or go directly to jail, do not pass go, do not collect $200.<br /><br />sbump, I made the leap from practice to industry many years ago, but thanks for asking. Do you ever fish Lake Arlington? I went out there for the first time Sat. morning when I had a couple hours to kill.

 

[mellowyellow]

Re: economics

there have been cases where people have used this<br />information to stop paying income tax. they lost<br />their citizenship, but were not forced to pay I<br />believe...?

 

[tylerin]

Re: economics

there have been cases where people have used this<br />information to stop paying income tax. they lost<br />their citizenship, but were not forced to pay I<br />believe...? <br />

........... Don't tell Al Capone that

 

[mellowyellow]

Re: economics

filing a false tax return is much different than<br />not filing one at all...

 

[tylerin]

Re: economics

Don't know the whole story with Capone, Mellow, I always thought it was tax evasion.

 

[jtexas]

Re: economics

Originally posted by mellowyellow:<br />there have been cases where people have used this<br />information to stop paying income tax. they lost<br />their citizenship, but were not forced to pay I<br />believe...?

If you don't pay, your assets will be confiscated, bank accounts frozen, wages garnished until the debt is satisfied. Failure to pay doesn't always result in criminal charges; usually it's just a civil case. But if criminal charges are pursued and you lose then you will go to jail. And the government always gets their money!<br /><br />I think your best chance is to exercize your 5th amendment rights against self-incrimination to refuse to file tax returns. You'll go to prison, but maybe one day a good enough lawyer will come along, or the right supreme court justices will agree and set you free.

 

[mellowyellow]

Re: economics

I stand corrected: Flora v. united states:<br /> http://www.quatloos.com/taxscams/federal_income_tax_system.htm

 

[Pikey2574]

Re: economics

Wow... now that is a post..

 

[POINTER94]

Re: economics

Quote:<br /><br />I can only<br />immagine what the big corporations do to reduce<br />their tax burden each year. after all, they have<br />teams of accountants on the payroll fulltime.<br /><br />Please don't take this wrong but maybe they need to hire "x" number of accountants just to pay their fair,legal share....<br />

 

[jtexas]

Re: economics

Originally posted by POINTER94:<br />Quote:<br /><br />I can only<br />immagine what the big corporations do to reduce<br />their tax burden each year. after all, they have<br />teams of accountants on the payroll fulltime.<br /><br />Please don't take this wrong but maybe they need to hire "x" number of accountants just to pay their fair,legal share....<br />

trust me, I can tell you first hand, it takes teams of accountants to stay in compliance with the law and pay a legal share. I'm not sure you can have a share that is both "legal" and "fair."<br /><br />As I've said before, tax benefits exist by the grace of Congress; any deductions they don't want us to take they can legislate out of existence. Corporations have a fiduciary duty to their stockholders to arrange their affairs in such a way as to minimize their tax burden.

 

[jtexas]

Re: economics

I meant to add, IRS assigns full-time audit teams to the largest corporations. Every single income tax return filed by these corporations will be audited 4 to 5 years later. That's why you seldom hear news of large corporations getting into trouble with IRS.

 

[snapperbait]

Re: economics

As punishment, Nate should have to write out that whole thing on the chalk board..

 

[dhud64]

Re: economics

Where's the part where the liberal media talks this issue to death?! <br />We need to go to a National sales tax! Yes, this will create some black markets, but they already exist anyways!

 

[jtexas]

Re: economics

Originally posted by dhud64:<br /><br />We need to go to a National sales tax!

AKA a consumption tax. Regressive, in that low-income individuals spend a larger proportion of their income on essentials thereby paying a higher percentage of their income as tax. <br /><br />We have national sales taxes here in the US; tires, gasoline, air travel, highway use, telecommunications, to name a few. US govt collects from the producers, which is why you seldom see it on a sales receipt.<br /><br />Common throughout Europe in the form of a VAT (value-added tax) in which goods are taxed at each stage of production on the amount of value added. <br /><br />Most VAT countries have some form of tax relief for the lower-income citizens to alleviate the regressive nature of consumption taxes.