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Old 03-21-2010, 02:28 PM
 
68 posts, read 45,500 times
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What do you guys think?
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Old 03-21-2010, 02:31 PM
 
29,981 posts, read 42,930,375 times
Reputation: 12828
Is it patriotic for our government to take our earnings from us and re-distribute it to non-producers?

Is it patriotic for the Federal Reserve to keep their accounting books closed from our elected representatives?

Last edited by lifelongMOgal; 03-21-2010 at 02:55 PM.. Reason: spelling typo
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Old 03-21-2010, 02:31 PM
 
24,832 posts, read 37,340,970 times
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Not sure what you mean. I pulled out of banks. However, all business checks have to be deposited in a business account.
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Old 03-21-2010, 02:31 PM
 
2,605 posts, read 4,692,872 times
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That's the only way to keep any of it. Honestly, it isn't right, but man, it's tempting.
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Old 03-21-2010, 02:33 PM
 
24,832 posts, read 37,340,970 times
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Quote:
Originally Posted by NoExcuses View Post
That's the only way to keep any of it. Honestly, it isn't right, but man, it's tempting.
And easy.
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Old 03-21-2010, 02:37 PM
 
Location: West Michigan
12,372 posts, read 9,311,700 times
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Quote:
Originally Posted by FromMaine View Post
What do you guys think?
If you mean hiding income and not declaring it on your income tax, they will catch up to you eventually. By then you'll have a big fine to pay along with the taxes. It's immoral not to pay your fair share of taxes and illegal.

If you mean hide money so you'll qualify for low income housing, Medicaid, etc., again that is immoral, illegal and about as far from being patriotic as you can get. And most people get caught in time.
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Old 03-21-2010, 02:45 PM
 
Location: Foot of the Rockies
90,297 posts, read 120,747,599 times
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If you mean taking advantage of legal tax breaks, you are doing nothing wrong. I don't know if I'd call it "patriotic", but it's smart, and it's not un-patriotic.
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Old 03-21-2010, 02:45 PM
 
68 posts, read 45,500 times
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Quote:
Originally Posted by Wayland Woman View Post
If you mean hiding income and not declaring it on your income tax, they will catch up to you eventually. By then you'll have a big fine to pay along with the taxes. It's immoral not to pay your fair share of taxes and illegal.

If you mean hide money so you'll qualify for low income housing, Medicaid, etc., again that is immoral, illegal and about as far from being patriotic as you can get. And most people get caught in time.



What if you still pay some taxes that just covers your "fair share" but not anymore is that immoral?
And what about your inheritance? Why is it immoral to hide that?
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Old 03-21-2010, 02:48 PM
 
Location: Foot of the Rockies
90,297 posts, read 120,747,599 times
Reputation: 35920
Quote:
Originally Posted by FromMaine View Post
What if you still pay some taxes that just covers your "fair share" but not anymore is that immoral? And what about your inheritance? Why is it immoral to hide that?
How are you planning to hide your inheritance? We had to pay taxes on my mother's estate, after she died. Dad died first, no taxes were due as all went to mom. The income on her investments was reported to the IRS. You'd be in deep s*** not to pay the taxes. Again, use all the legal means you can to reduce the amount you owe.
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Old 03-21-2010, 02:54 PM
 
Location: West Michigan
12,372 posts, read 9,311,700 times
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I don't see how it is possible to hide inheritance money. Katiana above it right. Use all legal means to reduce your taxes, but pay what you owe. They will catch up with you. There are legal ways around paying a lot of taxes on inheritances if a person has their estates set up right.
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