There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

The rich pay proportionately more in tax than those less wealthy so have greater incentive to try minimise their total tax.

mollwollfumble said:

How does one become rich?

Be born/married to someone who is rich. Create and sustain your own business, hire people to take it to the next level. Invest in successful ventures eg real estate, shares. Invent a product that everyone wants. Become a YouTube star (there are now 6 year olds who earn a million bucks a year!). Win money eg a lottery. Write a phenomenally successful book/series eg JK Rowling.

Of course, it also depends on your personal definition of “rich”.

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

I don’t know about anybody else, but my general opinion was that the rich were likely to have a much higher average tax avoidance/head than poor people, who will pay little to no income tax anyway.

The Rev Dodgson said:

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

I don’t know about anybody else, but my general opinion was that the rich were likely to have a much higher average tax avoidance/head than poor people, who will pay little to no income tax anyway.

Generally lower income people are on PAYG & have their tax deducted automatically thus there is less chance of tax avoidance.

Tamb said:

The Rev Dodgson said:

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

I don’t know about anybody else, but my general opinion was that the rich were likely to have a much higher average tax avoidance/head than poor people, who will pay little to no income tax anyway.

Generally lower income people are on PAYG & have their tax deducted automatically thus there is less chance of tax avoidance.

Yes, there is that, although I don’t know how many people paying PAYG tax would count as ‘poor’.

Divine Angel said:

mollwollfumble said:

How does one become rich?

Be born/married to someone who is rich. Create and sustain your own business, hire people to take it to the next level. Invest in successful ventures eg real estate, shares. Invent a product that everyone wants. Become a YouTube star (there are now 6 year olds who earn a million bucks a year!). Win money eg a lottery. Write a phenomenally successful book/series eg JK Rowling.

Of course, it also depends on your personal definition of “rich”.

All of those involve a fair amount of luck of course.

If you really want to be rich the most reliable way is probably to steal stuff, or help others steal stuff.

The Rev Dodgson said:

Divine Angel said:

mollwollfumble said:

How does one become rich?

Be born/married to someone who is rich. Create and sustain your own business, hire people to take it to the next level. Invest in successful ventures eg real estate, shares. Invent a product that everyone wants. Become a YouTube star (there are now 6 year olds who earn a million bucks a year!). Win money eg a lottery. Write a phenomenally successful book/series eg JK Rowling.

Of course, it also depends on your personal definition of “rich”.

All of those involve a fair amount of luck of course.

If you really want to be rich the most reliable way is probably to steal stuff, or help others steal stuff.

Invest in a balaclava & a shotgun.

Witty Rejoinder said:

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

The rich pay proportionately more in tax than those less wealthy so have greater incentive to try minimise their total tax.

In proportion to income many very low income earners pay a much higher effective tax rate than high income earners do.

It’s the total dollars/head that are worth chasing, rather than the % rate.

(Yes, I know I’ve just said that the poor pay little or no tax; I was forgetting loss of ‘entitlements’ as soon as you earn a few dollars.)

I think it’s some thing like the top 20% of earners pay the tax for everyone else. Poor and average earners get more than they pay, then a sliding scale to middle income where it is churn then up to paying more than they get back. Most of us are leaners.

AwesomeO said:

I think it’s some thing like the top 20% of earners pay the tax for everyone else. Poor and average earners get more than they pay, then a sliding scale to middle income where it is churn then up to paying more than they get back. Most of us are leaners.

Not counting companies of course, in that case coal and iron pay for most of it?

AwesomeO said:

I think it’s some thing like the top 20% of earners pay the tax for everyone else. Poor and average earners get more than they pay, then a sliding scale to middle income where it is churn then up to paying more than they get back. Most of us are leaners.

Sounds like Scomoish propaganda to me.

AwesomeO said:

AwesomeO said:

I think it’s some thing like the top 20% of earners pay the tax for everyone else. Poor and average earners get more than they pay, then a sliding scale to middle income where it is churn then up to paying more than they get back. Most of us are leaners.

Not counting companies of course, in that case coal and iron pay for most of it?

Nowhere near “most”.

generally the more you have the higher the liabilities, there’s more to lose, extends to companies too, with shareholders etc

you know there’s a Blues song, goes I started off with nothin’, and I got most of it left

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

There are two methods. You can use either or both.

1: Increase your income.

2: Decrease your spending.

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

Behind every great fortune lies a crime.. Someone said that.

or: The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed.

mollwollfumble said:

How does one become rich?

by falling ten times and getting up eleven.

I might have been using the wrong wording. I was also trying to work out shit I don’t really understand. I can only accept what I hear in that the largest companies in australia pay no tax.I have never been in the position to move any of my money offshore onto a small island or to register my boat in a small country thats largest industry is registering boats.

What I was saying was that to go after a large tax evader requires a large crew of professionals. To go after Joe Blogg you need to put a form in an envelope.

I hope you are having fun putting shit on me again.

sarahs mum said:

I might have been using the wrong wording. I was also trying to work out shit I don’t really understand. I can only accept what I hear in that the largest companies in australia pay no tax.I have never been in the position to move any of my money offshore onto a small island or to register my boat in a small country thats largest industry is registering boats.

What I was saying was that to go after a large tax evader requires a large crew of professionals. To go after Joe Blogg you need to put a form in an envelope.

I hope you are having fun putting shit on me again.

:-)

>register my boat in a small country thats largest industry is registering boats

that’s funny

mollwollfumble said:

There seems to be a general opinion in chat that the rich are more likely to break tax law than the poor.

How does one become rich?

Inheritance

transition said:

sarahs mum said:

I might have been using the wrong wording. I was also trying to work out shit I don’t really understand. I can only accept what I hear in that the largest companies in australia pay no tax.I have never been in the position to move any of my money offshore onto a small island or to register my boat in a small country thats largest industry is registering boats.

What I was saying was that to go after a large tax evader requires a large crew of professionals. To go after Joe Blogg you need to put a form in an envelope.

I hope you are having fun putting shit on me again.

:-)

>register my boat in a small country thats largest industry is registering boats

that’s funny

Liberia.

Tax avoidance is perfectly legal.

Tax evasion is not.

There’s no point in the IRS investigating tax avoidance – it’s not breaking the law. Everybody has the inalienable right to arrange their finances to minimise the amount of tax they pay within the law.

It’s really annoying when the IRS changes the law, as they do far too often, to make tax avoidance more difficult.

As for how somebody becomes (and stays) rich, it seems to require all four of:

• Hard work
• Ability
• Ambition
• Luck

And so long as ability includes people skills and ambition requires money, that seems to be all there is to it.

The richest people aren’t any more likely to break the law than the rest of us. For starters, they have more to lose.

mollwollfumble said:

Tax avoidance is perfectly legal.

Tax evasion is not.

There’s no point in the IRS investigating tax avoidance – it’s not breaking the law. Everybody has the inalienable right to arrange their finances to minimise the amount of tax they pay within the law.

It’s really annoying when the IRS changes the law, as they do far too often, to make tax avoidance more difficult.

As for how somebody becomes (and stays) rich, it seems to require all four of:

• Hard work
• Ability
• Ambition
• Luck

And so long as ability includes people skills and ambition requires money, that seems to be all there is to it.

The richest people aren’t any more likely to break the law than the rest of us. For starters, they have more to lose.

But they can afford better lawyers.

We don’t have an IRS in this country. It’s the ATO.

buffy said:

We don’t have an IRS in this country. It’s the ATO.

Well, we do.

But i was confused about why Industrial Rubber Supplies might have so much say over taxation law.

mollwollfumble said:

It’s really annoying when the IRS changes the law, as they do far too often, to make tax avoidance more difficult.

It’s really annoying when they don’t.

The Rev Dodgson said:

mollwollfumble said:

It’s really annoying when the IRS changes the law, as they do far too often, to make tax avoidance more difficult.

It’s really annoying when they don’t.

plus i doubt the ato can change any laws.

Boris said:

The Rev Dodgson said:

mollwollfumble said:

It’s really annoying when the IRS changes the law, as they do far too often, to make tax avoidance more difficult.

It’s really annoying when they don’t.

plus i doubt the ato can change any laws.

But if it’s Moll that says it?!?

Witty Rejoinder said:

Boris said:

The Rev Dodgson said:

It’s really annoying when they don’t.

plus i doubt the ato can change any laws.

But if it’s Moll that says it?!?

The Ancients don’t always know.

Old Jungle saying.

Boris said:

Witty Rejoinder said:

Boris said:

plus i doubt the ato can change any laws.

But if it’s Moll that says it?!?

The Ancients don’t always know.

Old Jungle saying.

Faster than lightning.

roughbarked said:

Boris said:

Witty Rejoinder said:

But if it’s Moll that says it?!?

The Ancients don’t always know.

Old Jungle saying.

Faster than lightning.

I tried to look up some ‘old jungle sayings’, but, because of my internet connections, they all came up in Danish.

I don’t speak Danish.

captain_spalding said:

roughbarked said:

Boris said:

The Ancients don’t always know.

Old Jungle saying.

Faster than lightning.

I tried to look up some ‘old jungle sayings’, but, because of my internet connections, they all came up in Danish.

I don’t speak Danish.

http://www.phantomwiki.org/Old_Jungle_Sayings

Boris said:

captain_spalding said:

roughbarked said:

Faster than lightning.

I tried to look up some ‘old jungle sayings’, but, because of my internet connections, they all came up in Danish.

I don’t speak Danish.

http://www.phantomwiki.org/Old_Jungle_Sayings

Done with the strength of ten tigers.

Boris said:

captain_spalding said:

roughbarked said:

Faster than lightning.

I tried to look up some ‘old jungle sayings’, but, because of my internet connections, they all came up in Danish.

I don’t speak Danish.

http://www.phantomwiki.org/Old_Jungle_Sayings

Thanks, Boris.

But still Danish.

Anyway, what’s the Phantom got to do with tigers and their strength?

Ain’t no tigers in Africa.

‘Novak Djokovic has raced past Australian John Millman to claim the Japan Open with a straight sets victory in little over an hour.’ – ABC News

John who?

Now to be kn own as ‘Cannon Fodder’ Millman.

captain_spalding said:

‘Novak Djokovic has raced past Australian John Millman to claim the Japan Open with a straight sets victory in little over an hour.’ – ABC News

John who?

Now to be kn own as ‘Cannon Fodder’ Millman.

John Millman unfortunately had a long time out of the game with injury. He has a weak serve, but he really plays every point. He has a great temperament. He’ll never make it into the top group, but he’ll hang around until the 3rd or 4th round, annoying various people, by clinging on with his fingernails.

I have a deal of time for him.

captain_spalding said:

‘Novak Djokovic has raced past Australian John Millman to claim the Japan Open with a straight sets victory in little over an hour.’ – ABC News

John who?

Now to be kn own as ‘Cannon Fodder’ Millman.

I’m sure it will still come with a handy prize purse for being second.

According to Wiki he is aged 30 and has been a pro tennis player since 2006, with career prize money of about $3 million (I presume USD). So he’s making about $230K a year despite not having a huge fan base or much of a public following. He can retire in a couple years time into relative obscurity.