Innocent Until When
We live in strange times. Governments require tax revenues, but rely on outdated technology to monitor and collect those taxes. The tax laws themselves are outdated.
Big money folks who keep a toe in the fiat currency pond are the primary targets of tax agencies. Small money people who keep their assets outside the fiat world are not worth the effort to watch.
There are companies and banks that are too big to fail. There are people who remain too small to watch.
The tax legislation that measures taxable events is not stable. Not only is it impossible for individuals to understand the rules, it is impossible for governments to track small irregular actions.
My point is not to encourage tax avoidance, but rather to encourage systemic associations with banks and exchanges. Until our risks become known, it is best to stay in the shadows.
Here is today’s beauty.
Well explained, Doc. nudge-nudge, wink wink. Avoidance is an art.
Good thoughts on taxes but do not leave out the one major tax we all pay and that is the loss of purchasing power on our fiat US$. Very hard to avoid it.
That will not benefit ordinary people.it requires a law and regulatory system.
We should also keep the acquisition of tax with modern development as per technology. If the quality of justice is the best, the common human can also live better.
Big money folks pay much....making it easier for the government to receive some encouraging amount than taking small monies which encourages long term keeping. This latter part is ignored or less considered because, to the government it is time consuming and less supportive to his/her tenure of office.
Nice post ,pls upvote my post