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To: Kaslin

If you default on your credit card, you can declare bankruptcy. The bankruptcy laws have changed so that it is not so easy to discharge your debts in bankruptcy. I doubt that you would be able to discharge a tax debt in bankruptcy even if the tax debt was charged on a credit card.

I have been thinking about more creative ways to starve the beast through tax avoidance and tax payment delays. Given the current trends, many will simply react to the negative incentives by conservative investing especially through tax free bonds, working less, and spending less. These activities on a large scale are certain to starve the beast. Others will move assets and engage in the underground economy to avoid confiscatory taxation. I think we need a new national sport of tax avoidance. In Europe and Italy especially, tax avoidance has been a national sport for many years. It seems that we need to bring the same spirit here to protest and fight the violation of our private property rights that the rats will unleash on us.


8 posted on 02/15/2009 9:55:44 AM PST by businessprofessor
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To: businessprofessor
think we need a new national sport of tax avoidance.

I disagree, unless it is legal and the above-board result of good planning and wise consumer choices.

24 posted on 02/15/2009 1:28:50 PM PST by Albion Wilde ("Praise and worship" is my alternate lifestyle.)
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