General Discussion
In reply to the discussion: A lot of people here seem to have no clue about what's happening in Greece..... [View all]erronis
(15,718 posts)It is only the lowly wage earners that are forced to report all their earnings via federal forms. If you fail to report/pay you will be docked and shamed.
Anyone earning income in the high five upwards is looking for loopholes. Sometimes these are part of the tax code and are actually benevolent. If you have enough money to secure the services of a tax avoidance counselor you can find lots of ways to move funds around so the IRS or other agencies can't see them and wouldn't really want to go to prosecution.
This is just reported 1040 income. The IRS is not very diligent about non-reported or even 1099 income. They can't afford to be. The current congress has done whatever it can to prevent government agencies from investigating their constituent shenanigans. You have to be pretty damn egregious (and uncovered by some presso) to be hauled before any legal bar.
The US has learned well by every other country that had taxes and tariffs imposed upon it. The sheep will bleat and the lords will frolic.
Greece, France, England - thank you. You have taught us well!