Suppose, If You Were Rich Enough, You Could Run through Stop Signs
Just suppose for a moment. Sometimes it clears the mind to suppose what might happen if reality prevailed.
The I-do-my-part-and-you-do-yours aspect of stop-signs would entirely evaporate and road safety would become chaotic. America would be like Italy, where I have driven (and motorcycled) over the past 30 years and realized that Italians feel traffic laws are merely suggestive. Driver-chaos reigns charmingly in that wonderful country, but it comes at personal risk.
And so it is, with American income-tax laws. Some of us stop at stop-signs, others whip on through
Most Americans (defined as those who struggle to pay the mortgage on a single home) have no more choice on paying their taxes than stopping at stop-signs, as their employers automatically deduct them. It’s the law.
Others (mostly the top ten percent), only slow down ever so slightly as they choose from a cornucopia of possibilities. Those include deferred income, tax loss carry-forwards and offshore accounts, as well as any weir…