Comments by "Jeremy Barlow" (@jeremybarlow2291) on "The Taxman Plans to Spy on Your Bank Account" video.

  1. I suspect the opposite is true and most self-employed individuals in the US are under reporting legitimate deductions like the home office deduction or mileage to avoid being audited. I know I never claimed the numerous legitimate instances where I could have claimed mileage just because it dramatically increases the likelihood of an audit & that was at a time when I was earning less than the current standard deduction, so all that it would basically do is alleviate some of the 15.3% self-employment tax that was due on my earnings and the time I was wasting with tax compliance was already costing me too much money. The last thing I needed was to deal with the time wasted by an audit.
    5
  2. The appeal of the UAE from a tax perspective is great. The appeal of the Cayman Islands, Anguilla, the Bahamas, the BVI, or Turks and Caicos coupled with the fact that little things like relationships between consenting adults being none of the state's concern makes them more appealing. The fact that the EU and the CUNA countries are imposing neocolonialist and neoimperialist tax policies to preclude developing nations from utilizing the tax free environments they themselves developed under via banking regulations to "prevent money laundering" is one of the more laughable justifications the imperialists use to continue to exert their authority over their former colonies. It is a pity that those Caribbean nations who embrace greater individual freedoms are not sitting on a vast reservoir of oil that allows them to evade much of the control being imposed on their financial system as the UAE has.
    4
  3. Because that doesn't help with the neocolonist and neoimperialist policies of control over their former colonies. The system as it is imposed today allows the imperialists of old to look more fair and benevolent while still maintaining their control. An automated low cost transaction tax would give the colonies and their people too much power over their own lives and futures.
    4
  4. This is true even for people educated on the subject. I am trained as a tax attorney and I don't make enough to use any of the loopholes available, but the time I would need to waste on an audit for the pittance of an amount I would be required to pay is not worth the effort to me or the IRS. They would spend more on even a day of an auditor's salary than they would recover as a result of an audit.
    3