Peter Lik

Started 3 months ago | Discussions thread
Teila Day
Teila Day Veteran Member • Posts: 4,870
Re: What Most Folks Miss...

MyReality wrote:

"Speeding is the norm. Only a fraction of speeders get an infraction on any given day.
Tax cheating is the norm. Only a fraction of tax cheats get legal action levied against them.
Inside trades are as common as water is wet. Only a fraction get caught."

From what I have seen while driving, speeding is the norm.

it is the norm.

I think tax cheating is not the norm, because there are gray areas in the tax code. Exploiting a grey area or loop hole is not cheating.

I specifically said cheating, not tax avoidance.  There are creative tax code advantages that the average joe can benefit from in the tax code but the average joe expects someone to do the homework for him/her.

Trumps accountants are experts at this in a big way. The IRS catches most minor tax cheats and corrects their returns. The major ones are prosecuted.

The IRS doesn’t catch most cheaters irrespective of the amount owed not paid.

Insider trading is very minor in total, because most people do not have the knowledge of inside trades to exploit them.

That’s incorrect. Most people don’t trade in the first place. If a series of inside trades affect a $6,000,000,000 advantage, then that affects more than just a few people. The bottom line is that money trumps the law, and where there’s a lot of money to be made there’s inside trades. That’s the nut of it.

What gets me is that the average man is so willingly blind to the financial realities of the world.

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Teila K. Day

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