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Here's a slice of Americana for your evening ruminating ...


Man Convicted of $1.3 Million Tax Evasion

by Emily Constance -- July 30, 2012

[U.S. man] has been sentenced to 30 months in federal prison for operating a tax evasion scheme for the last decade, announced U.S. Attorney [...]

[He] also attempted to evade paying taxes by calling his company a variety of names, such as Goodrich & Sherwood Company, Goodrich & Sherwood Associates, Inc., Whittenwood Associates, Inc., Whittenwood International, Inc., GSA International, Inc., Stanton Chase of New York, and G&S Holding Limited Partnership, reported [the D.A.].

[The Tax shirker] also reportedly evaded his taxes by causing his income to be paid in his wife’s name and to her account via wire transfer and check, reported [the D.A.].
[...]


Some Tax Evaders -- DO eventually see Justice  ...

And others just run for Office, claiming they've paid every Tax dollar "legally owed."


What a country!

See what a difference stubborn stonewalling can make.


Afterall it's the Law. And Tax Laws are meant to exploited

-- especially by those who can hire the expertise to do so.




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Comment Preferences

  •  Tips (3+ / 0-)


    Yes I know the "Convicted Man" broke the law ...

    But how can we so sure the "Running Man" -- hasn't?


    Just take his word for it?

    Yeah Right!


    Just like they just accept certain Birth Certificates,

    Right.


    What is necessary to change a person is to change his awareness of himself.
    -- Maslow ...... my list.

    by jamess on Tue Jul 31, 2012 at 07:50:46 PM PDT

  •  what's worse (0+ / 0-)


    Not paying your employees' Payroll taxes

    or

    Not paying your employees -- because you let them all go?


    What is necessary to change a person is to change his awareness of himself.
    -- Maslow ...... my list.

    by jamess on Tue Jul 31, 2012 at 08:28:26 PM PDT

  •  Romney admits he's been audited several (1+ / 0-)
    Recommended by:
    jamess

    Times. There is tax evasion, which is illegal, and there is playing the game exceedingly -- amorally -- well. That is, tax avoidance.

    The IRS appears to be all over the Romneys. If he's doing something illegal, it will catch up with them.

    People do get prosecuted for tax evasion frequently enough. But most of the time, it's more efficient for the IRS to assess  interest and penalties and save prosecutions for the most egregious cases.

    And, by the way, professionals who are found affirmatively assisting  clients to commit tax evasion/tax fraud can  lose their licenses.  Most aren't stupid enough to risk it.

    If Romney is  commiting tax evasion, it's just a matter of time until he gets caught.  

    Personally, I think he's just utilizing every bad law we have available to protect the rich to avoid paying his fair share.

    This makes him unfit to be president. It makes him a creep. I don't think he's a criminal though. His tax professionals keep him just on this side of the law.

    © grover


    So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

    by grover on Tue Jul 31, 2012 at 10:56:51 PM PDT

    •  grover - PriceWaterhouseCoopers manages (1+ / 0-)
      Recommended by:
      grover

      Romney's tax matters. According to an article in the Boston Globe as many as 50 CPAs and tax lawyers have a hand in each Romney return. Like you, I don't think Romney is committing any fraud because he isn't even actively involved in the preparation of his return and all those tax professionals would not put their careers at risk.

      I don't agree with you that people who take advantage of the current code to minimize their taxes are not fit to be President. Everyone tries to minimize their taxes, I do. There are lots of reasons not to vote for Romney, but in my view taxes aren't one of them. No one has ever made this point better than the famous federal judge Learned Hand:    

      "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

      "let's talk about that"

      by VClib on Wed Aug 01, 2012 at 01:34:11 AM PDT

      [ Parent ]

      •  I agree with your last idea (1+ / 0-)
        Recommended by:
        jamess

        UNTIL one starts using offshore entities to shelter his taxes, entities that we're still not sure are reporting accurately to the US government as the law requires.

        Then I think that there is inherent conflict of interest for a head of state.

        This isn't someone who owns a few shares of Nestlé (which, I am certain has farms and jobs in Carnation, WA because I drove by them several times a week).

        It's a bit more complicated if you want to be president.  If he were Rick Perry who just jumped in rather on a whim, I'd probably cut him more slack. But Mitt Romney has been running for president for how many years?

        I really need a CPA to do that calculation. It's higher than I can count.

        ;)

        © grover


        So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

        by grover on Wed Aug 01, 2012 at 11:40:29 AM PDT

        [ Parent ]

        •  grover - most of Romney's offshore accounts (0+ / 0-)

          are remnants of how the Bain investment partnerships are structured. The foreign accounts don't trouble me at all. They are legal if disclosed. As I said there are a lot of other good reasons not to vote for Romney.

          "let's talk about that"

          by VClib on Wed Aug 01, 2012 at 11:48:07 AM PDT

          [ Parent ]

    •  for me (1+ / 0-)
      Recommended by:
      grover

      If Romney won't trust us enough to explain his long history in business,

      I won't trust him with my vote.


      I suspect there are millions of independents,

      who will end up feeling that way too.


      Obama's life is an open book,

      Romney's is a dodgy mystery -- with several chapters missing.


      What is necessary to change a person is to change his awareness of himself.
      -- Maslow ...... my list.

      by jamess on Wed Aug 01, 2012 at 05:37:39 AM PDT

      [ Parent ]

      •  well, heh... (1+ / 0-)
        Recommended by:
        jamess

        Even if he released his returns tomorrow going back to his lemonade stand when he was 9 years old, I don't think you'd vote for him, James.

        At least, I hope not.
        :)

        © grover


        So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

        by grover on Wed Aug 01, 2012 at 11:43:38 AM PDT

        [ Parent ]

        •  Nope, don't think I would. (0+ / 0-)


          just stating the correct sentiment,

          for the "undecideds" in the audience.


          thanks grover


          What is necessary to change a person is to change his awareness of himself.
          -- Maslow ...... my list.

          by jamess on Wed Aug 01, 2012 at 06:19:16 PM PDT

          [ Parent ]

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