US Debt Could Eat US Billionaires Seven Times Over

[Martin Hash]

Per year?

Sounds to me like they’re being punished for absurdly clutching their shekels to the gravesite.

Right now it’s $15K/year, plus $1 million total to everyone combined.

And what would happen if they simply handed over a monthly wad of cash? Can the IRS prove that your swollen bank account should be taxed?

Forensic accounting. First they have to suspect; that's usually a tip from disgruntled family members, or criminal enterprise. It's not difficult to cheat the IRS without snitches. People have to want to follow the law, and be afraid of what will happen if they don't.

[Martin Hash]

In pirate world, there is no IRS: it's other people who take your money.

[SuburbanFarmer]

Right now it’s $15K/year, plus $1 million total to everyone combined.

And what would happen if they simply handed over a monthly wad of cash? Can the IRS prove that your swollen bank account should be taxed?

Forensic accounting. First they have to suspect; that's usually a tip from disgruntled family members, or criminal enterprise. It's not difficult to cheat the IRS without snitches. People have to want to follow the law, and be afraid of what will happen if they don't.

There ya go. Now go give your kids some cash.

Better yet - go buy some gold and give them that.

[Martin Hash]

And what would happen if they simply handed over a monthly wad of cash? Can the IRS prove that your swollen bank account should be taxed?

Forensic accounting. First they have to suspect; that's usually a tip from disgruntled family members, or criminal enterprise. It's not difficult to cheat the IRS without snitches. People have to want to follow the law, and be afraid of what will happen if they don't.

There ya go. Now go give your kids some cash.

Better yet - go buy some gold and give them that.

If you're talking about my kids, they have the same value system as me (coincidence?) They don't expect any money; they're taking care of their own lives. Not once has any of them ever even asked for anything.

p.s. As for me & my wife, we never thought of asking anyone for anything either, though there was no one to ask anyway.

[DBTrek]

I’ve written about this being the solution. A billionaire could make a 1000 millionaires. It’s the obvious solution for liberty.

Ah, I see.
A billionaire could make 1000 "lucky aristocrats", but making just one, from their own family line - that's anti-liberty.
A thousand random aristocrats tho - that's freedom to the max.

This theory holds no water.
It is internally inconsistent.

[SuburbanFarmer]

Forensic accounting. First they have to suspect; that's usually a tip from disgruntled family members, or criminal enterprise. It's not difficult to cheat the IRS without snitches. People have to want to follow the law, and be afraid of what will happen if they don't.

There ya go. Now go give your kids some cash.

Better yet - go buy some gold and give them that.

If you're talking about my kids, they have the same value system as me (coincidence?) They don't expect any money; they're taking care of their own lives. Not once has any of them ever even asked for anything.

p.s. As for me & my wife, we never thought of asking anyone for anything either, though there was no one to ask anyway.

Well, you can leave it to Uncle Sam I guess. Inner city baby mamas thank you.

[DBTrek]

Well, you can leave it to Uncle Sam I guess. Inner city baby mamas thank you.

Yeah ... for the whole 0.03% of it that will make it through the government "aristocracy" and actually reach them.

God forbid we don't open additional avenues for an organization already $28.5trillion in debt to seize even more money from citizens.
That would be anti-liberty and shit.

[Martin Hash]

The Enlightenment didn't reach this forum.

[SuburbanFarmer]

The Enlightenment didn't reach this forum.

That’s why we’re all here.

[Martin Hash]

The Enlightenment didn't reach this forum.

That’s why we’re all here.

Nice