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RT's,
Wouldn't it be nice if we didn't feel like running to a tax haven. As
traders we face greater tax challenges then most average Americans. We
accept greater risks and are rewarded with greater reporting burdens as are
most businessmen.
I have a dream. That being of a tax system where all Americans would not be
considered as those likely to defraud or cheat the government, where our
liberty could be restored and we would not be required to report all the
details of our life to the tax man. I would happily and patriotically pay my
fair and reasonable share of taxes. I think that most Americans would do
likewise if given the opportunity. Something simple enough for all to
understand. Say for example a 10% sales tax on all sales transactions no
mater what level of sale, whether retail, wholesale etc. 5% goes to the Fed,
3% to the state and 2% to the local and no other taxes, not property,
estate, luxury, etc. etc. etc. etc. The saving in paper work alone would be
unfathomable and banks could set up accounts so that the tax could be
deposited daily (frequently) into a tax account.
Relieved of that burden would even make me a better trader I think. Pleasant
dreams.
Brent
-----Original Message-----
From: John Cappello <jvc689@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, March 09, 1999 3:42 PM
Subject: GEN: Trust accounts
>Dear Zaheer and Group,
>
>I have been checking into this for 2 years.As long as you are a US
>citizen and direcly or indirectly control the trading accounts it is
>no tax haven.The US paper work is quite clear and you have to lie to
>make it work.
>
>US legislation has been passed to further crack down on this area.
>
>Be careful.Even posting one's intent to a group could target you if
>someone wanted to be mean.
>
>John
>
>
>
>------------------ Reply Separator --------------------
>Originally From: Zaheer Bhyat <zaheer@xxxxxxxxx>
>Subject: GEN: Trust accounts
>Date: 03/09/1999 04:19pm
>
>
>Dear RT's,
>
>I want to set up a trust account in a tax haven eg. Cayman islands,
>BVI's
>etc. I would appreciate any insight in to doing this that anyone would
>like
>to share, also would appreciate any experiences and contacts.
>
>Thanks for your help
>Zaheer
>
>
>
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