Knowing the tax laws does not make you a tax dodger

I am getting a little sick of hypocrisy from the new administration. I am sure that all members and visitors to this site had their stomach release its contents upon seeing Treasury Secretary Timothy Geithner announce we are going after “offshore tax dodgers.”  First, Timothy has no standing in my opinion as a person calling anyone a tax cheat.  Second, if you follow the laws of the United States, you are NOT cheating.

How is it cheating to take advantage of laws that benefit you?  Is the child tax credit a tax dodge?  When you put money in your 401k or other qualified retirement account, and at the appropriate age currently in the statute you make your withdrawals, are you dodging taxes? When you buy muni bonds because the income generated is tax free, are you dodging taxes?

The answer to all of these is no.  Our representatives made these laws on our behalf. To suggest that taking full advantage of the laws and the tax code to our own personal benefit is called the American system.  It is why we are a free country.

Now Obama wants to create taxes on international businesses that other countries do not put on their companies doing business outside of their country.  That takes away a major competitive advantage to our American businesses doing business offshore.

This video is from Carl Levin.  Listen in this discussion with IRS officials how they talk about those who take advantage of legal tax laws.

 

Give me your comments.  I want to hear what you think of this.

John 

Publisher, NOBAMA.com