We don't pay taxes. Only the little people pay taxes

[kallend 2,027]

Has anyone noticed that there is massive fraud and tax evasion going on among the 1% that  comes to light when they draw attention to themselves (Avenatti, Cohen, Manafort, Gates. . . .).

I wonder how much fraud, laundering, tax evasion, etc. goes on among the very wealthy who keep a low profile.  The IRS has been starved of resources to investigate.

Edited April 12, 2019 by kallend

[turtlespeed 220]

7 hours ago, kallend said:

Has anyone noticed that there is massive fraud and tax evasion going on among the 1% that  comes to light when they draw attention to themselves (Avenatti, Cohen, Manafort, Gates. . . .).

I wonder how much fraud, laundering, tax evasion, etc. goes on among the very wealthy who keep a low profile.  The IRS has been starved of resources to investigate.

I would also like to know - 

Exploit the rules as you may - but do it legally.  Otherwise - pay the price.

[lug 4]

Interesting

 

In the United States the VCR (voluntary compliance rate) is estimated by the IRS at being consistently over 80%. This places the US rate as being one of the highest or if not the highest country in the world, excluding communist, to do so year after year. It would however be very interesting to see the VCR for those 1% and how timely they pay their quarterly estimated taxes.

[brenthutch 444]

I am a big fan of the one percent, they are responsible for much of the progress in this country, the one percenters signed nearly every paycheck I have cashed.  That said, they have a responsibility to society.  Not by paying more than they owe, but by paying every penny they owe. When a successful person starts to believe they are somehow exempt from the rules that govern the “little people” the hammer should be dropped with vicious intent.