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Author Topic: [2017-01-28] DCEBrief - Bitcoin Plays An Insignificant Role In The Tax Evasion..  (Read 170 times)
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January 28, 2017, 04:46:32 PM

Bitcoin Plays An Insignificant Role In The Tax Evasion Big Picture

Large corporations, particularly multinationals, as well as some of the wealthiest members of society, often go to great lengths to get out of paying income tax. Their unlimited resources give them access to the best lawyers and accountants that can scour the tax code looking for any loophole that will allow them to pay less. Deep pockets and connections allow them to come up with complicated and often convoluted flow of capital plans, that sees their money move in and out of shell accounts in various tax havens around the world.

Tax avoidance and evasion by this elite segment of society has a trickle-down negative psychological effect on everyone. When an individual or small business owner who is barely getting by, sees this privileged group getting away with it, they are more likely to engage in similar illegal or immoral activities.

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January 28, 2017, 05:11:12 PM

Avoidance is legal and recommended. Evasion is illegal and not.

A flat tax or something like the Fair tax would remove these loopholes. And remember who put the loopholes in there - the same people who then demagogue about them, politicians.
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