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That's the name of my prospective business name.

I propose a business model where this consulting business takes on small business clients and navigates them through incorporating to offshore tax haven countries, then back if the laws change, and not have to pay US taxes for schools and such.... Same for the employees of these complicit companies: incorporate the people themselves, to their better "corporate" alternate-ego "person" overseas.

Since corporations are just people and all.

(If problem there, the agency could perhaps just shuffle some more papers and hire them through the agency and contract them back to their willing bosses.)

Then everybody in the US can therefore take advantage of this tax loophole: "People" and their "business" can just pay the tax-haven country's taxes. Using this service. And then as part of the deal, navigate you back if laws change.

Yes government ends up drowning in the bathtub, the ultimate goal since Reagan, but at least everyone will get same treatment as the 1% tax cheats across the board.

It's that simple. A modest proposal if you will.

Republicans must really love America, considering how they work tirelessly to help 1% tax cheats while saddling everyone else with fees and sales taxes etc. to fix roads and pay for the military and educate kids.

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Comment Preferences

  •  If that could be done, people would be doing it (2+ / 0-)
    Recommended by:
    VClib, thanatokephaloides

    If that could be done, people would be doing it

  •  gnosticator - I would discourage you from (4+ / 0-)

    starting your consulting business. Based on this diary it's clear that you have no understanding of either the US corporate or individual tax code as it relates to foreign income. Therefore the advice you gave would likely subject you to malpractice lawsuits and your clients to fines and penalties from the IRS. This part of the code is far from "simple".

    Regarding your link, the current request by the administration and Democrats in Congress to end "inversions" will be ignored until a new Congress is seated next January. The GOP is hoping that inversions will motivate the Dems to take a new look at a comprehensive review of the US corporate income tax code, which is a remnant of the post WWII era when the US was the dominant market, and economic power. The US corporate tax code needs to be brought in line with the G8.

    "let's talk about that" uid 92953

    by VClib on Thu Jul 24, 2014 at 06:57:12 PM PDT

    •  You've been snarked, VClib. (4+ / 0-)
      gnosticator - I would discourage you from starting your consulting business.
      VClib, methinks you need to check the fuse for your snarkometer.

      This whole diary is pure snark.

      "He hid in the forest, read books with great zeal.... He loved Che Guevara, a revolutionary Veal..... Cow Tse Tongue...." -- Cows With Guns, Dana Lyons

      by thanatokephaloides on Thu Jul 24, 2014 at 07:55:28 PM PDT

      [ Parent ]

      •  I know it was snark but it was so filled with (2+ / 0-)
        Recommended by:
        thanatokephaloides, nextstep

        misinformation that it is clear that the diary author really has no clue when it comes to tax law.

        "let's talk about that" uid 92953

        by VClib on Thu Jul 24, 2014 at 08:01:47 PM PDT

        [ Parent ]

        •  if we all bond together (1+ / 0-)
          Recommended by:
          thanatokephaloides

          we can pool our resources and cheat the same way the 1% do. a modest proposal has to have some elements of being possible, ya know, if this was ahem snark...

          •  First, it's not cheating if the taxpayer follows (3+ / 0-)

            the code. If people are violating the IRS code they should be prosecuted, but following the law is never cheating. Your diary had no elements that were possible because you don't understand tax law.

            Maybe you should add a snark tag.

            "let's talk about that" uid 92953

            by VClib on Thu Jul 24, 2014 at 09:50:29 PM PDT

            [ Parent ]

            •  so if not cheating (0+ / 0-)

              why can't small businesses and "people" incorporate overseas like the 1% tax cheats? For example, shouldn't I be able to incorporate myself and sell my IT services back to my also overseas-incorporated small business I work for?

              like the walgreens et al scumbags do.

              if not my modest proposal is that we should be able to do this like the scumbags do.

              •  gnosticator - there is nothing stopping you (0+ / 0-)

                from doing exactly the same thing that major corporations do. However, as an individual you would likely be taxed twice on the amount you took as income because the rules for international income for individuals is completely different than those for corporations and has always been. However, if you followed precisely the path of the multinationals you too would have offshore cash that your corporation would hold that would not be subject to US income tax until you repatriated it. The problem is that you couldn't access it as personal income without paying standard individual income tax rates, so why bother?

                "let's talk about that" uid 92953

                by VClib on Fri Jul 25, 2014 at 07:31:26 AM PDT

                [ Parent ]

                •  ahem (0+ / 0-)

                  There is a foreign tax credit which is somewhat complex but the general idea is to avoid double taxation.

                  •  It would not apply here unless it was repatriated (0+ / 0-)

                    and would be a corporate credit against the corporation's US income tax liability. However, when our diary author either paid himself a salary, or declared a dividend as the primary shareholder he would be taxed a second time. He could pay himself a salary from his foreign corporation and only pay personal income tax, but he would be in the exact same place if he had never gone through all the trouble of forming his offshore corporation in a tax haven. So why bother?

                    "let's talk about that" uid 92953

                    by VClib on Fri Jul 25, 2014 at 11:24:11 AM PDT

                    [ Parent ]

                    •  because an offshore corporation (0+ / 0-)

                      can be structured to pay almost no taxes:

                      in 2013 Google Ireland Limited paid an effective tax rate of just 0.16 percent...

                      Google and many other tech firms have recently come under increased scrutiny for using a quirky Irish tax law arrangement that allows organizations to incorporate in Ireland but legally route money through other jurisdictions

                      and it does not take much imagination to realize how a well traveled corporate owner could benefit from corporate assets held outside the US without repatriating those monies.
    •  my service (1+ / 0-)
      Recommended by:
      Santa Susanna Kid

      would cover the costs of those malpractice lawsuits and IRS penalties, because I would be operating in bulk... in order to operate like the "corporate" "persons, and get past those hurdles, I would have to operate in bulk. like a Walmart of tax cheating. it would require most people and most small businesses using my Tax Cheat Inc service to succeed in my tax cheating, like the 1% do...

      ;)

  •  Genius; I love it! (n/t) (0+ / 0-)

    "Hey Clinton, I'm bushed" - Keith Richards UID 194838

    by Santa Susanna Kid on Fri Jul 25, 2014 at 04:14:56 AM PDT

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