[andrewstuart]

Look, if you owe lots of tax its because you made lots of money. Pay the tax, be happy.

I just don't get why some people are so obsessed with not paying tax.

You don't have to pay tax when you didn't earn money so stop being so stingy.

I know lots of people who go to extraordinary lengths to reduce the amount of tax they will pay even if it means they end up with less money in their pocket. It's crazy. Needing to pay tax seem to make some people go nuts.

I know one person who would rather make half the salary because it means less is paid in tax. I just roll my eyes.

Just pay it. It pays for defence, education, health, government services and a bajillion other things.

Get a grip, tax obsessives.

[rank0]

Theres a huge difference between legally optimizing your tax burden and committing tax fraud. If you want to give more money than is legally required to the federal government so they can light it on fire I guess that’s your prerogative…

[andrewstuart]

You are correct.

As Kerry Packer said, anyone who doesn't minimize their tax is a mug.

Avoiding tax is illegal, minimising tax is common sense.

What I am talking about is people who would rather less money in their own pocket if it means paying less tax. Makes no sense at all.

[hamandcheese]

I hate taxes because US tax code is pretty slanted against income earners. It just doesn't feel great to take home proportionally less and less as you work harder. We don't treat corporations or capital holders the same way, and that makes me bitter.

[janalsncm]

100% agree. Taking a paycheck is the worst way to make money in America. That said, it makes me even more sympathetic to the post you replied to. Basically no one working a 9-5 is making enough to owe the IRS $48 million, including this guy. If you make $240 million, pay your damn tax and be happy.

[andrewstuart]

I never said you should love taxes.

I'm talking about people who are unreasonably obsessed with paying tax.

[nootropicat]

Not paying taxes is the single best thing anyone can do. You can get an average market return and you will still move up, relatively, because most people pay taxes. Often it's the difference between having to work or not.

Old money doesn't pay taxes through international arrangements. It's only for the working and lower middle class. Gifts from foreign people, companies and trusts are completely tax free in America for example. It's not talked about unlike bullshit minimum taxes on new money because same people controlling the media use it.

Income tax is primarily designed to keep elites in power and to prevent social mobility, they don't have to do anything special, not paying taxes over decades is an incredible advantage. If you start poor the only realistic option is to risk evasion until you make enough to start not paying legally, and the limitations period on tax evasion runs out.

[romeros]

It's challenging when dealing with millions of dollars. $5 million is a substantial amount, and a 37% capital gains tax would reduce it to approximately $3 million. Essentially, you would lose $2 million to taxes.

$5m is life changing.

Having said that it is stupid to commit tax fraud and live a life of perpetual fear.

[andrewstuart]

>> you would lose $2 million to taxes

This is where people lose perspective. You're not "losing" anything. If $2million is owing on $5million then the $2million was never yours to "lose to tax". The $2million was always owned by the government (assuming it is calculated correctly).

The mindset that tax is losing money or being taken from you is I think at the heart of why some people go tax crazy.

It's easier to deal with if you don't ever see it as your money, cause its not your money.

You made $3million and part of the cost of making $3million is $2million tax.

Focus on the $3million. The $2million in a real way does not exist to you.

[hggh]

> You don't have to pay tax when you didn't earn money so stop being so stingy.

But you have to pay a fixed VAT for what you buy, even if that is food or clothing to survive. Remember, you pay twice.

[globular-toast]

Like many things in life this makes sense when you understand that a large number of people fundamentally believe the world is a zero-sum game. They can only feel like they've won it someone else loses.

[throwaway22032]

I don't owe you anything.