Random Thought Thread

You only pay taxes on income

There are no taxes on loans. Loans are not income and are untaxable.

So spend your money on something that's tax deductible so that you show no income

And then get loans using that thing as collateral

Tada!

No taxes

How to implement this in practice:

Step one: Be incredibly rich.

I don't know the steps that follow that. I have not completed step one. 😞
 
Nate, you should update your signature from the sale on Feb 27th. Ask Tanto how.

Unless you're planning next year's sale.

Maybe that's another way to defer taxes. Just date every sale as taking place in upcoming years so you'll have nothing to report this year. 🤣
 
I keep yammering on in here that most pf y'all just like 95% of people get the concept of money, a form of our currency all wrong by design because the truth of the matter is quite counterintuitive. Once you truly understand double-entry accounting and also come to terms with the fact that MONEY = DEBT (even it is said in plain English on any notes in your wallet: promise to pay the bearer!). Our government creates (debt) and injects money into the veins of our economy. Selling of Treasuries and collecting your tax $s, complete the double-entry bookkeeping system.

The conservatives lose their shyte when you argue with them that ever since Ronald Reagan, we are running a quasi version of MMT (I don't want to call it a full version officially because this will make some people's head to explode). Our government will never, ever run out of money because they have license to create money, which you and I do not! The you ask, well Mat, you are totally crazy because what you are saying leads to hyperinflation and so forth. The crux of the argument is this: people across the world buy our debt simply because of the trust and the stability of the U.S. government. Heard of the GoT phrase, "A Lannister always pays his debt"? Well, same with the U.S. government. They always pay their debt* so it is not the annual deficit which is the crucial issue in here, it is the amount of debt and the interest rate associated with paying that debt. You can manage the debt in two ways, first you appropriate the money more efficiently among the bottom 90% rather than the top 10% (conservatives hate this phraseology because they just howl: SOCIALISM!!! Ergo socialism for me but not for thee).

In closing, efficiency in the money distribution to expand resources both natural and human (an educated, healthy and gainfully employed public is a big part of this equation) plus reasonable cuts to some of the more expensive programs and modest increases in taxation to the top earners in addition the closing the loopholes will assuage this disastrous path that we are all going down toward. Always remember that when your fat favorite billionaire throws a hissy by threatening to grab his ball and go somewhere else, say, don't let the offing door hit you in the arse! Be confident, they will never ever go anywhere else simply because the U.S. on its worst day, affords then with the best of the best than anywhere else. I'm so confident that I'll bet a Shiv on this 🤣

ETA and caveat emptor: the U.S. government must not lose its credibility and the trust and confidence which it has enjoyed from in exorbitant fashion for the last 80 years. Wink, wink.

PS. Only applies to the federal government or any form of central government which owns its own central bank and issues debt in its own currency while enjoying international trust and stability. The E.U. is a bit weird in this paradigm but still under the same umbrella. None of this applies to your state's gov and they must collect taxes and get fiscal help from the Feds.
 
Last edited:
Nathan the Machinist said:
You only pay taxes on income

There are no taxes on loans. Loans are not income and are untaxable.

So spend your money on something that's tax deductible so that you show no income

And then get loans using that thing as collateral

Tada!

No taxes

How to implement this in practice:

Step one: Be incredibly rich.

I don't know the steps that follow that. I have not completed step one. 😞
Click to expand...
This is true lol.

Also, buy rentals commerical, residential, short term it doesnt matter. You can take 100% bonus depreciation in the first year now against income (gotta have income first).

Or if you have rentals and havent taken much depreciation, get a cost segration completed and take it against your income....talk to your CPA first. lol
 
Last edited:
JearBeatus48 said:
This is true lol.

Also, buy rentals commerical, residential, short term it doesnt matter. You can take 100% bonus depreciation in the first year now against income (gotta have income first).

Or if you have rentals and havent taken much depreciation, get a cost segration completed and take it against your income....talk to your CPA first. lol
Click to expand...
Hop into my DMs like I'm retarded and need you to.explain this like I'm retarded but don't want to be
 
Last edited:
You must log in or register to reply here.
Back
Top