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IRS does the stupid thing again

I just saw a news report that the federal amnesty program for tax cheats ended last week.  It says that it reportedly took in $500 million dollars from 12,000 tax cheats.  Well, whatever… But the annoying part is that the IRS is setting up offices in other countries to track down these people.  Imagine how much money we’re spending setting up offices in other countries…  Some people just don’t get it.

Let’s say we dropped our corporate income tax rate down to 5% and simplified our code to have no deductions, no loopholes, simple expenses, and could fill it out in less than 3 minutes.  Think about how many people from other countries would be flocking to the US to put their money here?  It would be a land rush.

We should be looking at taxes in the US as a competition, not a burden to wring out every dollar we can get out of our citizens.  Wouldn’t that be something?  If the people writing our tax laws thought about trying to beat the international tax havens at their own game.  That’s the thing the Washington law makers really don’t get.  They have never looked at WHY people try to dodge taxes.  It’s because there’s other places where it’s cheaper.  If people with all these millions of dollars didn’t have to spend so much on taxes, they would never bother playing the games of shuffling money offshore.

The Delaware Division of Corporations and Nevada Secretary of State should be lobbying for this.  People from other countries with no social security numbers, usually end of paying C Corporation taxes, not personal income tax. Delaware and Nevada are famous for incorporating in, and have no income tax if you don’t live there or work there. So foreigners are left with the IRS C corporation taxes. There would be some seriously big business moving to America if we had such a low corporate tax like 5%. Heck, even 10%. But if we did something drastic like that, there would be no need to set up offices in other countries trying to track people down, because there would be no real need to shuffle money oversees.

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