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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (287745)5/11/2006 6:42:40 PM
From: Jim McMannis   of 1576134
 
RE:"Won't they just then resort to off-shore accounts?"

Well, they can do that anyway but it's illegal to not declare and pay the tax if ou are a US citizen. One billionaire even changed citizenship, Dart, to Belize. Now he's set up. Later Congress passed a law to stop even that.

They key I think is not to make the tax so much that the Rich try to fenagle around it by creating foundations, trust or moving offshore.

15% on everything would be plenty of $$ to run the government...especially if you add in all the evader money that wouldn't bother to evade.
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