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To: Retired Greyhound

Yes, income taxes, and many other taxes are IMMORAL. So, tax havens are moral responses to an immoral situation/government.


7 posted on 09/20/2011 8:56:29 AM PDT by Former Proud Canadian (We .. have a purpose .. no longer to please every dictator with a vote at the UN. PM Harper)
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To: Former Proud Canadian

I know of a graduate student in MIT from Taiwan who inherited money back home BEFORE he came to America and has the inherited money deposited in a Taiwanese bank earning interest. Quite substantial amount too.

After getting his graduate degree, He worked for a Silicon Valley company after graduation and became a permanent resident two years ago ( a green card holder ). He pays taxes on his income from his salary here in the US.

He is now in a dilemma — because according to our tax code, he has to declare income FROM ALL SOURCES.

Is it immoral and criminal of him if he did not declare the interest income he gets from the money deposited in a bank account in Taiwan under his Chinese name? ( THAT WAS EARNED BY HIS PARENTS AND NEVER ENTERED THE US AT ALL ).

This is a very important question because MANY hard working LEGAL immigrants, who never depend on government largesse are asking themselves the same question.... many have money deposited back home BEFORE they came to the US. Does Uncle Sam have a moral claim to that money?


14 posted on 09/20/2011 9:09:38 AM PDT by SeekAndFind (u)
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To: Former Proud Canadian

I agree. Not paying taxes may be illegal and an immoral act if the government levied a flat tax that met the needs of a limited government. The government is clearly acting immorally by exceeding its authority in every sense.
This would be similar to the moral delema faced by the people who used deception to hide Jews from Nazi authorities. In both cases, liberty is being preserved.
If you are going to evade or avoid taxes, you do have to weigh the risks and the benefits. And in the long run, that is probably your most important decision.


25 posted on 09/20/2011 10:31:31 AM PDT by grumpygresh (Democrats delenda est)
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