10-17-2008, 02:18 PM
His question may be valid, but his question has been answered pretty well, even during the first debate.
And his question didn't cover the various structures of how any corporate entity can/will be structured to
avoid the taxes that he is purportedly so fearful of.
So without a CPA analysis of the best way to establish this business, its payroll, its cost of doing business
and how the owner of the company is set up to own stock in the business and pay himself at the lowest
tax rate of just 15% on dividends, then this argument is pointless - it was used by McCain and it backfired,
and an individual who wanted to be party to it now finds himself in the spotlight that he should have had
enough sense to AVOID, because ANYONE claiming income, whether they are on 60 Minutes or a subject
of the debates, is ENOUGH to make the IRS look closer at someone.
My brother used to be an auditor in FL, and one 60 Minutes that ran with overhead flying shots moved
the IRS to conduct the same flight until they matched the house and discovered who they were talking
about.
No sympathy for the ignorant. NONE.
You say you're selling coke - and it's really just aspirin, you go to jail for selling coke. Same rules apply
here. You fill out a credit app that you lie and say you earn 3x what you really do --- ?? These are forms
governed by US Law, and you've just invited the IRS to see if you have this money, and if you do, you owe,
and if you don't, you LIED, and perjuring yourself on a document overseen by federal law is a
great way to toss a salad.
And his question didn't cover the various structures of how any corporate entity can/will be structured to
avoid the taxes that he is purportedly so fearful of.
So without a CPA analysis of the best way to establish this business, its payroll, its cost of doing business
and how the owner of the company is set up to own stock in the business and pay himself at the lowest
tax rate of just 15% on dividends, then this argument is pointless - it was used by McCain and it backfired,
and an individual who wanted to be party to it now finds himself in the spotlight that he should have had
enough sense to AVOID, because ANYONE claiming income, whether they are on 60 Minutes or a subject
of the debates, is ENOUGH to make the IRS look closer at someone.
My brother used to be an auditor in FL, and one 60 Minutes that ran with overhead flying shots moved
the IRS to conduct the same flight until they matched the house and discovered who they were talking
about.
No sympathy for the ignorant. NONE.
You say you're selling coke - and it's really just aspirin, you go to jail for selling coke. Same rules apply
here. You fill out a credit app that you lie and say you earn 3x what you really do --- ?? These are forms
governed by US Law, and you've just invited the IRS to see if you have this money, and if you do, you owe,
and if you don't, you LIED, and perjuring yourself on a document overseen by federal law is a
great way to toss a salad.