Ska Lagos Jew Sun Ra

The rich don't even pay taxes. I mean, that is why they have Swiss Bank Accounts, you know.

Really, Rich people are geniuses at tax evasion. I heard at one point the owner of Coca Cola gave himself a 1$ a year wage, and made all of his money of untaxed stock gains(See that's why we have a stock market).

You could abolish income tax for the poor entirely. I mean, after all, if Bill Gates wanted to, he could probably send every citizen in America a thousand dollar check in the mail. Problem is, the sneaky ****s at the top know how to cheat the system. In fact, that's why our economy crashed in the first place.

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Al Pacino = God

Burning Down

Steve Jobs does the same thing. He takes a buck for his yearly salary and makes the rest off of the 5-6 million shares he holds in Apple Computers. At the end of 2010, all of those stock holdings were worth approximately $2 billion. Two billion dollars of untaxed revenue!

Steve Jobs' salary is just $1, but his Apple stock is soaring - The Globe and Mail

That, and also the fact that American banks are not regulated by the government, so they can do whatever the hell they want when it comes to mortgage rates and investments. Also, the Federal Reserve is separate from the government, almost like a third-party actor, and it doesn't help that interest rates are determined by a non-governmental institution.

Janszoon

I don't actually think that's true.

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A Night in the Life of the Invisible Man

Time & Place

25 Albums You Should Hear Before the Moon Crashes into the Earth and We All Die

last.fm

Dotoar

As Janszoon pointed out, that's simply not true. Well, the banks themselves may be private, but the banking system in which they work is heavily regulated, which is why we're facing such a vast financial crisis.

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Dotoar

Yeah, that sneaky bastard Gates has only donated a few billion bucks so far.

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Ska Lagos Jew Sun Ra

It's not a knock on Bill Gates. Only trying to illustrate the massive gap between top, and bottom.

As for the annonymous accounts, I do believe they exist. I do believe there is a concept of hiding money away undetected. Anybody who doesn't is naive. I mean, drug lords have to keep their money somewhere.

Besides, even for the open tax evasion, it shows how powerless our ultra-right wing system is to tycoons, really.

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Al Pacino = God

TheBig3

Would 7% be the only tax or the only Federal Tax?

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Gregor XIII

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You do realize that we're not talking about dollar bills or gold bars or stuff like that? Transfer money from one acount into another. Done.

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Agnes Varda's Le Bonheur + thoughts on women in Akhmatova and Mizuguchi: The Centrifugue

Janszoon

And reported by the bank to the government.

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A Night in the Life of the Invisible Man

Time & Place

25 Albums You Should Hear Before the Moon Crashes into the Earth and We All Die

last.fm

Burning Down

Everyone has a paper trail, and if you're going to be making a transfer from one account to another, or even just making a straight cash deposit into your Swiss bank account, there has to be a transfer number involved somewhere.