is the income tax necessary in the US

[Klemen]

Quote from Humpy:

Many of the rich won't pay nearly enough tax.
A journalist last week nearly went to jail for whistle-blowing 2,000 fellow Greeks with Swiss Bank accounts.
The burden is not shared equally and never has been. The rich share these morally dubious places along with the Mafia, foul dictators, etc. Great bed fellows !!

I guess to become reach (not all) person must neglect a majority of their moral and ethic code. And until that will change we cant hope for any significant turn.

 

[PocketChange]

So why can a corp do this and not a person?

If you feel this is fair than they should allow individuals to move their retirement accounts, investments, pensions, annuities and bank accounts offshore and receive the same tax treatment.

Defer taxes on gains until repatriated (if ever) and all of our seniors will happily live in the Caribbean just on tax savings alone. They would gladly pay taxes on any money they transfer back to their US bank accounts... of course their US accounts would always remain empty.

Quote from BSAM:

Just because a company makes money, does that give the whores in D.C. the right to snatch it from them?