Tax Shelters for Everyone, let’s all create FLIPs

 
icehorse
 
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icehorse
Total Posts:  7618
Joined  22-02-2014
 
 
 
19 October 2014 01:13
 

I know we have a few lawyers here, I’m not looking for free advice. That said:

I’m sick and tired of big, profitable corporations getting bailouts and subsidies and exercising various tax loopholes and one way or another paying little or no taxes.

So what if a collective of common folk got together and hired a team of top lawyers to figure out easy, economical ways for small businesses to do what the big corporations do?

So we might end up with “FLIPs for Dummies”. (Foreign Leveraged Investment Program). This might end up being something like:

1 - The collective comes up with a strategy.
2 - A small business can join the collective.
3 - The small business gets easy, step by step directions to set up legal tax shelters.
4 - The collective supports members who get audited, so that the tax shelter can become refined and bomb-proof.

p.s. I’m not hung up on FLIPs, they’re just an example.

p.p.s. I understand that we all need to pay our taxes. A strategy like this might just get congress off of their asses and put together a system in which everyone is paying their fair share.

 
 
EN
 
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EN
Total Posts:  21492
Joined  11-03-2007
 
 
 
19 October 2014 10:42
 

Why don’t we just get Congress to enact legislation that would have everyone paying their fair share through progressive income and estate taxes?  Oh, wait .... How stupid of me - Congress won’t do anything because they are in the pockets of the 1%.  Never mind.

 
jdrnd
 
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jdrnd
Total Posts:  5899
Joined  25-08-2009
 
 
 
19 October 2014 12:56
 
EN - 19 October 2014 08:42 AM

Why don’t we just get Congress to enact legislation that would have everyone paying their fair share through progressive income and estate taxes?  Oh, wait .... How stupid of me - Congress won’t do anything because they are in the pockets of the 1%.  Never mind.

We are 100% in agreement here.