Lake Minnetonka Liberty

"Man is not free unless government is limited"

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Tag Archives: IRS

IRS forms ‘SWAT Team’ For Transfer Pricing

First question. Why does the government believe that it’s their money? It is not. Seriously, how did we get to the point where big government and the yaks that believe in big government, actually believe it’s the government’s money? Even though you try to explain to them it is not their money, they didn’t work for it, or do anything else for that money. The only thing government does is consume, not create. Yet the funny people think it’s the government’s money and they are entitled to a piece of it as well. Where do you people get that completely wrong notion? Barack Obama thinks like that, so much so that he’s created an IRS Swat team to go after companies that are shopping for other countries to relocate because the tax rate is lower in every other country in the world. Who can blame them?

WASHINGTON, March 20 (Reuters) – The U.S. Internal Revenue Service is staffing up with high-powered talent to crack down on companies shifting profits from country to country to lower their tax bills, a strategy the agency has targeted before with only limited success.

The IRS showed its elevated concern on the issue, known as “transfer pricing,” last May by hiring Samuel Maruca to fill the newly created post of transfer pricing director.

Here we go again. Spending more money we don’t have on a new bureaucracy we can’t afford, and will not be able to sustain due to a problem created by the very same people who created the bureaucracy. It just simply amazes me, the lack of intelligence and common sense that runs rampant throughout this administration, and left leaning people.

Now I’m sure a lot of the left leaners are cheering this on! Get after those filthy tax dodgers, without even giving the slightest bit of thought that just maybe, oh, I dunno…. the tax rates are too high here.

Let’s make this real simple so the left might be able to understand. You want to buy a bag of bolts. You go to hardware store A and the price is 27.50. Across the street at hardware store B, the same bag of bolts is 11.29. What are you going to do? Point and blame hardware store B for selling the same bolts for 16.21 less? Or, are you going to cross the street and purchase those bolts instead?

It’s the same premise as those evil businesses that relocate overseas or does a little “transfer pricing.” It’s not the companies that deserve blame, it’s Obama’s government and tax policies that are the culprit. This isn’t rocket science, its common sense.

Patriotism, Loyalty, Tax Competition, and ‘Tax Fugitives’

I fight to preserve tax competition, fiscal sovereignty, and financial privacy for the simple reason that politicians are less likely to impose destructive tax policy if they know that labor and capital can escape to jurisdictions with more responsible fiscal climates.

My opponents in this battle are high-tax governments, statist international bureaucracies such as the Organization for Economic Cooperation and Development (OECD), and left-wing pressure groups, all of which want to impose some sort of global tax cartel – sort of an “OPEC for politicians.”

Read the rest at Big Government

Obamacare Moves Forward With Job-Killing IRS Regulations

Obamacare opponents have been raising red flags around this issue for some time, but today the IRS has finally issued preliminary guidelines for the implementation of the Affordable Care Act. The legislation is expected to cost America tens of thousands of jobs, while also sending some high-end industries overseas. There’s more from the IRS available at the links in text below. That it’s being released on a Friday afternoon is no coincidence.

Read the rest at Big Government

New Academic Study Confirms that Lower Tax Rates Are the Best Way to Reduce Tax Evasion

Leftists want higher tax rates and they want greater tax compliance. But they have a hard time understanding that those goals are inconsistent.

Simply stated, people respond to incentives. When tax rates are punitive, folks earn and report less taxable income, and vice-versa.

  • When tax rates increase, sometimes they engage in tax avoidance, lowering their tax liabilities legally.
  • When tax rates change, sometimes they choose to alter their levels of work, saving, and investment.
  • And when tax rates go up, sometimes they resort to illegal steps to protect themselves from the tax authority.

Read the rest at Big Government