Re:How the Flash Crash Trader’s $50M Fortune Vanished
by loeg on Friday February 10, 2017 @11:54AM
(#13616806)
It's important to draw a distinction between tax minimization (within the bounds of the law) and tax evasion (illegal minimization). I don't think anyone here is promoting illegal evasion.
Re:How the Flash Crash Trader’s $50M Fortune Vanished
by charlesdm on Friday February 10, 2017 @11:35AM
(#13616636)
Yeah, large companies don't pay enough.
That said: the more money you have, the more of a game it is. The rules get blurry when dealing with multiple countries.
If you were (or owned) a large company, you'd do the same. Or well, at least I would. Can't blame the game. Fix the rules.
Re:How the Flash Crash Trader’s $50M Fortune Vanished
by rrrrsss99 on Friday February 10, 2017 @10:18PM
(#13620756)
Are there ways to optimize personal income taxes the same way corporations do? Can I create a shell person in the cayman islands and pay them the exact amount of my income and deduct my US income to $0?
I'd largely agree, people don't optimise their tax enough but large companies/corporations get away with it far too much.
It's a pretty big issue in the UK, the last figures I saw where Tax Evasion costs us 67bn a year (HMRC figures iirc) vs 1.8bn for all benefit errors (not fraud, that figure is errors and fraud).
We cracked down on benefit fraud massively... If I where a cynic.