Commentary, news and
reflections about
this taxing life, by Vernon Jacobs, CPA.
this taxing life, by Vernon Jacobs, CPA.
Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, of Offshore Tax Strategies, of The Controlled Foreign Corporation Tax Guide and of Risk Management for Amateur Investors. He is the Editor & Publisher of the International Wealth Protection Monitor newsletter and the free Q&A service, the Jacobs Report on International Financial Planning. He is the President of Offshore Press, Inc. and is a member of the International Tax Technical Resource Panel of the American Institute of CPAs. He has been a CPA since 1962, with a focus on taxes since 1975. .
Politics & Tax Privileges
Those who have the power to tax have always had numerous “supporters” who would offer money and services in exchange for the privilege of being near the seat of power. Having the power to tax is far better than being the owner of property. No matter how rich you might be, the politician can take it all away from you with some carefully designed and selective tax law.The politicians do not have any of the burdens of ownership and management of assets, while they enjoy virtually unlimited access to use or consume the assets of others.
For those who are not highly self reliant, the “best” way to protect whatever assets they have is to be among the "court" favorites - to pander to those in power. If they are among the truly favored, the politicians will craft obscure laws or exceptions to the laws to provide their supporters with an invisible grant of money. It has the same result as if they just wrote a check drawn on the accounts of the other taxpayers, but it’s not visible because it’s diabolically buried in an insanely obscure set of laws.
by Vernon Jacobs, CPA
Co-author of Legal Ways to Save Taxes Offshore & Onshore
http://www.offshorepress.com/legalways2save.htm
| Contact Information: Email jacobs1@kc.rr.com. Phone
913-362-9667, Fax 913-432-7174, U.S. mail to POB 8194, Prairie Village,
Kansas, 66208. www.vernonjacobs.com |
Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, with J. Richard Duke, JD, LLM.
